Federal Council decides on further development of financial market policy: leading worldwide, rooted in Switzerland
Bern, 04.12.2020 - During its meeting on 4 December 2020, the Federal Council decided on the strategic development of the financial market policy. Switzerland shall remain one of the world's leading financial centres and thereby further increase its appeal as an international business location. Established strengths like stability, security and trust are being combined with an openness for new developments such as fintech and sustainable finance. The Federal Council is creating the best possible framework for this.
A strong financial centre is key for the Swiss economy. Given the changing international environment and the rapid pace of technological change, the Federal Council considers that a strategic development of the financial market policy is necessary to maintain Switzerland's position as one of the world's leading financial centres. Along the three key thrusts "innovative", "interconnected" and "sustainable", the Federal Council has defined concrete areas of action for a future-proof Swiss financial centre.
Innovative: Existing and new financial centre players must be able to exploit the many possibilities offered by new technologies, such as data-driven business models, in an optimal manner. To enable this, the Federal Council is creating a technology-neutral regulatory framework and promoting innovation in the financial sector. The aim is to encourage standardisation and the opening of interfaces both within the sector and between state and business.
Interconnected: In a changing international environment, the Federal Council actively represents Switzerland's interests both in multilateral bodies and with its bilateral partners, and promotes open markets. It provides attractive and internationally compatible conditions and pragmatic solutions for Switzerland which continue to enable a financial centre with global reach. Switzerland's advantages as a location are actively communicated to the rest of the world.
Sustainable: Only a financial sector that aligns itself with the sustainable development goals under the 2030 Agenda is future-proof. For this reason, the Federal Council, together with the competent authorities, ensures the fundamental stability of the sector, the integrity of the financial centre combined with the effective combating of financial crime and other risks and, with respect to climate change, greater transparency in investment.
Address for enquiries
Mario Tuor, Head of Communications
State Secretariat for International Finance SIF
Tel. +41 58 481 34 96, mario.tuor@sif.admin.ch
Documents
Publisher
The Federal Council
https://www.admin.ch/gov/en/start.html
Federal Department of Finance
https://www.efd.admin.ch/efd/en/home.html
