Frequently asked questions

Swiss financial center players

Following important players act in the Swiss financial center::

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Banks

Apart from numerous other qualities, the Swiss banking system is noted for its variety. The Swiss banking system is based on the concept of universal banking, whereby all banks can offer all banking services. Nevertheless, it has seen the development of different bank groups that have come to specialize in certain areas.
The Swiss banking system is based on the model of universal banking. This means that all banks can provide all banking services, such as credit/lending business, asset management and investment advice, payment transactions, deposit business (savings accounts, etc.), securities business (stock exchange transactions), underwriting business (issuing of bonds) or financial analysis.
This is directly opposite of banking systems in English-speaking countries and in Japan which separate commercial banking from investment banking. Legislation is, in fact, currently underway in the United States to liberalize the system. 
The advantages of universal banking include the ability to spread risk over a greater number of banking businesses and customers from all sectors of the economy. 
Specialized bank groups:
- Big banks
- Private banks
- Cantonal banks
- Regional banks and savings banks
- Raiffeisen Group
- Foreign banks
- Other banks
More: «chose a bank».

Source: www.swissbanking.org

Financial intermediaries without bank status

In addition to the banks and their various bodies, the Swiss financial sector also plays host to financial intermediaries without bank status. These intermediaries, which are regulated by a special federal authority, include the management companies of Swiss investment funds (under the Investment Fund Act), life insurance companies (under the Insurance Supervision Act) and securities traders (under the Stock Exchange Act). A number of other financial intermediaries are only governed by the Money Laundering Act.
These include anyone who looks after other people's assets or helps to invest or transfer them, such as asset managers, brokers, bureaux de changes, lawyers, credit card companies etc.
Independent asset managers in particular form a large and important group. They are brought together in the Swiss Association of Asset Managers (SAAM) VSV. The total assets under management by SAAM members is estimated at CHF 100bn, which equates to 3% of the overall market. Independent asset managers maintain close relations with one or more banks, the banks being responsible for customers' accounts and custody accounts. Homepage:  www.vsv-asg.ch.

Source: www.swissbanking.org

Swiss Bankers Association

The Swiss Bankers Association (SBA) was founded in 1912 in Basel as a trade association and today has nearly 768 institutional members and approximately 11,333 individual members. The Association’s Office employs a staff of 54. 12 commissions and associated working groups deal with key issues affecting the industry. Serving on these commissions are some 440 representatives of various banking groups as well as specialists from the SBA. More:  www.swissbanking.org.

Source: www.swissbanking.org

Federal Banking Commission

Federal Banking Commission
The FBC is responsible for the supervision of banks through statutory auditors. It grants new banks authorization to begin conducting business. In the event of a violation of law or other abuses, the FBC can order appropriate corrective measures. If the case is serious enough, it can withdraw the bank's operating permit. Homepage: www.ebk.ch.

Source: www.swissbanking.org

Swiss Banking Ombudsman

Any customer who has a dispute with his/her bank but does not want to go to court may contact the Swiss Banking Ombudsman. The ombudsman is a neutral and independent office for resolving customer disputes. Although it has no powers of arbitration, it mediates between the parties to the dispute. Thus, it can recommend and advise, but not prescribe, a particular solution. Nevertheless, the ombudsman successfully mediates in many cases. Homepage: www.bankingombudsman.ch.

Source: www.swissbanking.org

Swiss National Bank

The SNB is the central bank of the Swiss Confederation, and it runs the country's monetary policy independently. As lender of last resort, it bears some responsibility for ensuring that the Swiss economy has sufficient liquidity. However, unlike the Bank of England, for instance, it has no regulatory powers - banking supervision is the purview of the Federal Banking Commission. Homepage: www.snb.ch.

Source: www.swissbanking.org

SWX Group  *)

The SWX Group ranks among Europe's pre-eminent providers of securities exchange services and offers its customers a comprehensive range of solutions for the domestic and crossborder trading of securities. Homepage: www.swxgroup.com.

Source: www.swissbanking.org

Swiss Financial Services Group AG (SIS)  *)

SIS Swiss Financial Services Group AG, a holding company that renders services to the securities industry, is the parent company of four operating units: SIS SegaInterSettle AG, SIS x-clear AG, SAG SIS Aktienregister AG and SIS Systems AG. Homepage: www.group.sisclear.com.

Source: www.swissbanking.org

Telekurs Group *)

The Telekurs Group is an internationally active service company primarily focused on card-based payment transactions, electronic payment systems and international financial information. Homepage: www.telekurs.com.

Source: www.swissbanking.org

Swiss Financial Market Services AG (SFMS)

*) The three players SWX, SIS and Telekurs merged by beginning of 2008 into Swiss Financial Market Services Ltd. Homepage: www.sfms.com.