Business
Swiss government proposes two revisions for systemically important banks
Switzerland’s Federal Council is opening consultations on Wednesday on two changes affecting banks deemed too big to fail. The proposals amend the Banking Act and the Liquidity Ordinance. They would impose a duty of care on executives, allow fines and bonus clawbacks, remove incentives to take inappropriate risks and broaden the tools available to the Swiss Financial Market Supervisory Authority, known as Finma. The package is due to go before Parliament in 2027. Its presentation coincides with the start of a separate parliamentary debate on strengthening UBS’s capital requirements.