Legal Update

The Swiss Government has submitted to the Swiss Parliament the Swiss-UK Financial Services Agreement. This Agreement is based on a mutual recognition of the Swiss and UK financial regulations. In our view, this Agreement is important for three reasons:

1. It symbolizes the cooperation between two important European financial centres, which are both outside of the EU.

2. It should benefit Swiss financial institutions by improving their ability to serve wealthy private clients in the UK .

3. It might serve as a template for similar agreements between Switzerland and other financial centers such as Japan, Singapore or Australia.

OBERSON ABELS SA follows closely this important regulatory development and has published a Legal Update (available at news@obersonabels.com) in this respect. Please feel free to contact Antoine Amiguet or Philipp Fischer should you have any question.