{
}
The Socialist Party's push to ban donations from systemically important companies to political parties faced a setback as UBS continues its financial support for right-wing parties, contributing a total of CHF 675,000 in 2023. Cedric Wermuth, co-president of PS-Suisse, criticized these donations, arguing they prioritize corporate interests over public welfare. The Federal Council, represented by Beat Jans, opposed the motion, citing recent amendments to the Federal Law on Political Rights that require evaluation before further changes can be considered.
The Swiss National Council has rejected a motion to ban donations from public and systemically important companies to political parties, allowing UBS and other big banks to continue their contributions. Cédric Wermuth of the Socialist Party criticized corporate influence on politics, especially following the Credit Suisse crisis, while Justice Minister Beat Jans deemed the motion premature, citing ongoing analysis of new transparency rules for political financing. A similar motion will be considered by the Council of States.
UBS will continue its political donations after the National Council rejected a motion to ban contributions from public and systemically important companies. The Socialist Party criticized corporate influence on politics, highlighting that systemically important banks donated over one million francs in 2023. Justice Minister Beat Jans deemed the motion premature, citing new transparency rules for political financing that came into effect in October 2022, with a report from the Federal Council expected by year-end.
The National Council has rejected a Socialist motion to ban political donations from public companies, including major banks like UBS, which contributed over one million francs in 2023. Cédric Wermuth criticized the influence of these firms on political decisions, while the government deemed new regulations premature, citing existing transparency measures. A similar proposal will be discussed in the Council of States.
Stefan Walter, the new director of Finma, criticized the reliance on external auditors, suggesting that Switzerland amend its banking law to allow for more direct inspections by the supervisory authority. He highlighted the inherent conflicts of interest in the current dualistic system and called for the deletion of Article 23 of the Banking Act. Despite his concerns, past inquiries found no legal breaches by auditors, raising questions about the necessity of increasing Finma's staffing for audit functions.
Justice Minister Beat Jans urged the media to advocate for their interests amid challenges like cost-cutting, fake news, and AI. He emphasized the importance of serious journalism, warning against prioritizing profit over quality, and called for a counter-movement against misinformation, highlighting the need for financial support through neighboring rights.
James Breiding, author of "Too Small to Fail," highlights the strengths of small nations like Singapore and Switzerland in navigating geopolitics. At the recent "Lucerne Dialogue," discussions emphasized Europe's need for innovation over regulation amid a bipolar world dominated by the US and China, with calls for greater independence and unity to enhance bilateral relations with Switzerland. Arancha González Laya urged Europe to seize global instability as an opportunity for new partnerships, advocating for a self-assured Europe to resist superpower pressures.
Justice Minister Beat Jans is preparing a package to counter the SVP's controversial 10 million initiative, sparking debate within the Federal Council. Meanwhile, rents in Switzerland have surged to historic highs, prompting calls for government intervention. In other news, Stahl Gerlafingen avoids layoffs for now, Wetzikon Hospital's entire Board resigns amid restructuring, and Switzerland's climate protection ranking has dropped significantly.
Switzerland is set to combat organised crime through a national strategy initiated by Justice Minister Beat Jans. The Federal Office of Police (Fedpol) will lead the effort, emphasizing that tackling this growing threat requires a collective societal approach. Organised crime poses risks to public safety, the legal economy, and victims of human trafficking, with Switzerland's stable political and financial environment making it an attractive hub for various criminal activities.
Justice Minister Beat Jans faces significant challenges in countering the SVP"s "sustainability initiative," which seeks to limit immigration. His proposals, including higher family allowances and stricter job protection for older employees, have sparked criticism from both federal colleagues and employers, while trade unions demand substantial social measures. The political climate is tense, with the Federal Council needing to navigate public sentiment and past referendum outcomes to avoid further backlash.
Beat Jans
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs donations to right-wing parties face political backlash in switzerland
14:14 19.03.2025
Swiss parliament allows big banks to continue political donations despite concerns
Swiss Franc
Credit Suisse Strategic Income I
CHE
Delphine Klopfenstein Broggini
Cédric Wermuth
Beat Jans
Albert Rösti
Show more
10:48 19.03.2025
ubs continues political donations as national council rejects ban motion
Swiss Franc
Credit Suisse Strategic Income I
FinMan Gestion",
CHE
Delphine Klopfenstein Broggini
Cédric Wermuth
Beat Jans
Albert Rösti
Show more
09:56 19.03.2025
Swiss National Council allows banks to continue political donations in 2023
Swiss Franc
Credit Suisse Strategic Income I
CHE
Cédric Wermuth
Karin Keller-Sutter
Beat Jans
Show more
09:24 19.03.2025
Finma director criticizes auditors and calls for banking law reform
Credit Suisse High Yield Bond Fund, Inc.
PwrCor, Inc.
CHE
Karin Keller-Sutter
Stefan Walter
Beat Jans
Show more
17:08 06.02.2025
swiss minister urges media to combat fake news and defend journalism
17:14 09.01.2025
Reimagining Europe Switzerland's Role Amid Global Geopolitical Shifts
United States Dollar
Euro
Politico Europe
Apple Inc.
USA
CHE
CHN
DNK
ESP
SGP
LIE
Lee Kuan Yew
James Breiding
Marcel Stalder
Kevin Roberts
Simon Michel
Arancha González Laya
Marco Sieber
Beat Jans
R. James Breiding
Jamil Anderlini
Dominik Isler
Janan Ganesh
Donald Trump
Show more
19:54 03.12.2024
Switzerland faces rising rents and political controversies ahead of key votes
17:02 20.11.2024
wiss government launches national strategy to combat organised crime
10:39 20.11.2024
Swiss Federal Council faces pressure over immigration initiative and social demands
05:27 20.11.2024
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Banking Regulations
Finance Mergers & Acquisitions
Global Financial Events
Retail and Consumer Goods
CEO Changes
Industry Mergers & Acquisitions
Central Bank Actions
Global Trade Developments
GDP Growth & Recession Forecasts
Financial Scams and Security
Market Analysis and Predictions
Inflation and Monetary Impact
Workplace Trends
Government Policies
Government Economic Policies
Startups & Entrepreneurship
Supply Chain Management
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Barclays PLC
Apple Inc.
Deutsche Bank Money Market PP
Bank of America Corporation
Wells Fargo & Company
Citigroup Inc.
Morgan Stanley
Banco Santander, S.A.
Lloyds Banking Group plc
BNP Paribas SA
UniCredit S.p.A.
Huawei Technologies CO. Ltd.
Credit Suisse Lux Digital Healt
Commerzbank AG
Microsoft Corporation
Amazon.com, Inc.
UBS Group AG
Currencies:
United States Dollar
Euro
Chinese Yuan
British Pound Sterling
Swiss Franc
Japanese Yen
Indian Rupee
Australian Dollar
Russian Ruble
Canadian Dollar
Offshore Chinese Yuan
United Arab Emirates Dirham
Indonesian Rupiah
Saudi Riyal
South Korean Won
Danish Krone
Turkish Lira
Hong Kong Dollar
Mexican Peso
Malaysian Ringgit
People: