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Winds of change in Switzerland now in place

Posted on April 11, 2008 at 17:01 in Winds of change in Switzerland by Francesc

Hi everyone,

My friend Arnaud Jeulin, owner at Mataf.net sent me this interesting article that confirms the winds of change in Switzerland we were talking about last June 2007 are now in place.

Switzerland: Foreign exchange traders
Thouvenin Rechtsanwälte, Zurich
By Dr Thomas Rihm

The Swiss Federal Banking Commission (SFBC) estimates that about 150 foreign exchange (forex) traders are registered as financial intermediaries in Switzerland, who have not been subject to regulation under Swiss banking and finance legislation. In particular forex traders managing accounts for more than 20 individual clients did not fall under SFBC supervision in the past, as long as those accounts were not interest-bearing and were only used to execute customer orders.

In recent years, the SFBC has seen a growing number of complaints, especially from smaller investors, regarding transparency, liquidity and risk disclosure, let alone the substantial losses sometimes suffered by these investors.
Read Full Story

Enjoy it!

Francesc

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