The March 2023 emergency takeover of Credit Suisse exposed a structural vulnerability in Swiss financial oversight – diffuse corporate governance that allowed executive management to evade personal accountability behind collective committees. In response, the Swiss Federal Council initiated a comprehensive legislative overhaul of the Banking Act (BankA) and the Liquidity Ordinance (LiqO).
Individual accountability, FINMA’s new powers, and the post-credit Suisse Orders
3 min read
Switzerland is overhauling financial governance, regulatory intervention, and executive pay. Read our overview, timeline, and comparison with the UK SMCR.