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The Social Democrats (SP) are pushing for a ban on party donations from systemically important companies like UBS, arguing that such contributions risk influencing political decisions. Despite previously accepting donations from banks, the SP now criticizes UBS for favoring bourgeois parties, while asserting their commitment to ethical fundraising practices. SP leader Cédric Wermuth emphasizes the need for clear regulations to protect against banking crises, even if it means forgoing certain donations.
The Socialist Party (SP) seeks to ban donations from systemic banks to political parties, despite receiving funds themselves, including 43,000 francs from Raiffeisen. Co-chair Cédric Wermuth argues that avoiding a banking crisis is paramount, even if it means forgoing such donations. The SP's stance raises questions about ethical consistency, as other parties, particularly the UDC, have benefited significantly from these banks.
Swiss parliament is grappling with the implications of UBS's acquisition of Credit Suisse, as the Socialist Party pushes for stricter banking regulations and a ban on political donations from major banks. They argue that current proposals from the parliamentary commission of inquiry fall short in addressing systemic risks posed by "too big to fail" banks. Meanwhile, right-wing parties caution against over-regulation, emphasizing the importance of maintaining Switzerland's financial center competitiveness.
Compenswiss has controversially shifted its custodian bank mandate from UBS to the American firm State Street, sparking political backlash and public concern over Swiss national assets being managed by a foreign entity. Critics argue the decision raises questions about compliance with federal procurement laws and the implications for asset management, despite assurances that the change is purely administrative and does not affect the location or management of the funds.
Olivier Feller
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
social democrats push to ban party donations from major banks
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