{ }
The Swiss National Bank emphasizes the need to strengthen regulations following the Credit Suisse crisis, urging lessons to be learned from the incident. The central bank plans to analyze the Parliamentary Commission of Inquiry's report and has already highlighted the importance of enhancing capital and liquidity requirements in its Financial Stability Report 2024. Discussions on necessary regulatory adjustments are ongoing at both national and international levels.
Finma has expressed support for the Parliamentary Commission of Inquiry's recommendation to expand its responsibilities, acknowledging that it has long sought such changes. The financial markets supervisory authority also accepts the criticism directed at it and emphasizes its commitment to enhancing supervision and learning from the Credit Suisse case.
The Parliamentary Commission of Inquiry has made 20 recommendations to the Federal Council, highlighting the need for improved enforcement and legislative measures regarding "too big to fail" legislation and audit supervision. It emphasizes the importance of enhancing coordination among authorities and increasing transparency in inspection processes, particularly for systemically important banks. The report also calls for strengthening FINMA's enforcement powers and proposes a parliamentary initiative to amend relevant provisions of the Parliament Act.
The Parliamentary Investigation Committee has issued 20 recommendations to the Federal Council, highlighting the need for improved enforcement and legislative measures regarding the "Too Big to Fail" (TBTF) framework, particularly for globally active banks. Key proposals include enhancing coordination among financial authorities, increasing transparency in bank inspections, and strengthening the enforcement powers of the Swiss Financial Market Supervisory Authority (Finma). The Federal Council is expected to respond to these recommendations in the Spring 2025 session.
Germany's Bundestag has passed the Digitalization of Financial Markets Act, enabling the full implementation of the EU's MiCAR cryptocurrency regulation before its December 30 deadline. This legislation designates BaFin as the regulator, allowing German firms to operate under MiCAR while establishing a one-year transition period for existing licenses. Meanwhile, varying transition periods across EU countries necessitate that crypto asset service providers secure new authorizations promptly to avoid operational disruptions.
Following the collapse of Credit Suisse, various political parties are calling for a stronger role for the Swiss Financial Market Supervisory Authority (FINMA). Criticism has been directed at FINMA for its failure to prevent the disaster, with suggestions for enhanced supervisory powers and stricter regulations for major banks. The Greens and Socialists advocate for tougher rules, including a ban on bonuses for executives of systemically important banks, emphasizing the need for improved financial oversight.
Switzerland's financial market regulator, FINMA, has embraced recommendations to enhance its authority following a report on the collapse of Credit Suisse. The organization acknowledged the criticisms and is committed to improving its supervisory capabilities and applying lessons learned from the incident.
The Parliamentary Investigation Committee (PUK) has presented a report on the Credit Suisse crisis, highlighting years of mismanagement and regulatory failures that led to its emergency merger with UBS. The PUK will recommend measures to the Federal Council, which must respond by spring 2025, while UBS supports most proposals to enhance the financial center's resilience. The report criticizes the "too big to fail" legislation and the lack of effective supervisory tools during the crisis.
The Swiss National Bank emphasizes the need to strengthen regulations following the Credit Suisse crisis, as highlighted in a recent report by the Parliamentary Commission of Inquiry. The central bank is focusing on enhancing capital and liquidity requirements and is engaged in discussions for necessary regulatory adjustments at both national and international levels.
Aline Darbellay, a specialist in banking and capital market law, has been appointed to the Board of Directors of FINMA, effective January 1, 2025. She succeeds Susan Emmenegger, who is leaving to become Dean of the Faculty of Law at the University of Bern. With over 15 years of experience, Darbellay is currently an assistant professor at the University of Zurich, focusing on commercial and business law.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.