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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
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- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
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- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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Swiss Banking Secrecy Nearly a Thing of the Past
[Photo: Swiss Alps by Simon Koopman / Wikimedia Commons]
Switzerland's reputation as a secretive tax haven looks set to end following the introduction of rules over sharing bank account data.
The International Convention on the Automatic Exchange of Banking Information (AEOI) went into effect on 1/1/17, pulling Switzerland in to line with international standards on taxation. The convention states that financial information on Swiss bank accounts held by citizens of certain countries will in future be shared annually and on an automatic basis.
In the past, Switzerland would only provide banking information if requested by a limited number of countries and even then, full co-operation was not guaranteed.
