«It’s The Bank Secrecy Law, Stupid!»

Posted on February 7, 2010 | by Markus Stocker

The German Finance Minister Wolfgang Schäuble has spoken: “Switzerland’s bank secrecy law has no place in the 21st century.” For starters, what in Switzerland in German is called Bankkundengeheimnis — bank client confidentiality– is the safeguard of financial privacy, not the secrecy of the bank, as I argued almost a year ago. I’m sure Mr. Schäuble [...]

What Switzerland Is Known For: A New Chapter

Posted on September 9, 2009 | by Markus Stocker

Forget about the times when Switzerland was known for chocolate, watches, cheese, mountains and the Swiss Army knife. Today the country is known for its bank secrecy, a term that is actually inaccurate. What in Switzerland in German is called Bankkundengeheimnis is more accurately translated with bank client confidentiality: The goal is financial privacy of the [...]

Anthony, You May Want to Take Notes

Posted on February 19, 2009 | by Markus Stocker

As Swiss citizen, today I probably ought to write a blog post on the recent evolution regarding the United States of America vs. UBS AG conflict. Having lived and worked in the US in 2008, having enjoyed a constant and mostly enriching exchange with people of diverse opinions at work and in public over an [...]

 

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