Incoming Swiss bank lobby chief warns against over-regulation, FT says
Switzerland risks undermining its position as a global financial centre by imposing excessive regulation on its banks, the Financial Times reported on Sunday, citing an interview with the incoming head of the country’s banking lobby Giorgio Pradelli. Pradelli, who is also the CEO of Zurich-based private bank EFG International, is set to take over as chair of the Swiss Bankers Association next…
An incoming Swiss bank lobby chief has cautioned against over-regulation, according to the Financial Times. Giorgio Pradelli, who will chair the Swiss Bankers Association next month, warned that Switzerland risks losing its status as a global financial hub if excessive regulations are imposed on its banks. Pradelli, CEO of Zurich-based private bank EFG International, emphasized the importance of applying the right policies, including an appropriate regulatory framework, to maintain Switzerland's prominence in the global financial landscape.
The Swiss parliamentary committee is set to vote on proposed new banking regulations for UBS in the coming days, following a previous panel's failure to reach a consensus.
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