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Swiss government wants to rein in bank executives

The Swiss government wants to hold bank executives more accountable and prevent risks arising from high bonuses. Stricter regulations on this matter have been put out for public consultation that would also force banks to be better prepared for crises. The aim is to close loopholes in the ‘too big to fail’ regulations, the Federal Council stated. It also wishes to reduce the risk that taxpayers, the economy and the state will once again have to bear financial risks such as those following the Credit Suisse debacle. + Where did it all go wrong for Credit Suisse? The measures intend to enshrine a system of accountability in the Banking Act for banks with more than 250 employees. It is to be clearly defined and made transparent who is responsible for which decisions. This is intended to improve corporate culture and the culture surrounding risk management. There should no longer be bonus incentives for unduly risky behaviour at banks, and a multi-year vesting period is therefore to be ... Full story here Are you the author?
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