Search Results for: Swiss
Citibank Sues Two Former Goldman Sachs Partners Over $29 Million Swiss Franc Margin Call
March 19th, 2015
The sharp and unexpected rise of the Swiss franc in January resulted in big losses for hedge funds, investment banks and other currency speculators, even causing some hedge funds to shut down. Now, there is a lawsuit over a ...
Swiss bank UBS settles currency-rigging claims for $135M
March 16th, 2015
Switzerland‘s largest bank, UBS, has agreed to pay $135 million to settle claims that it helped rig currency-exchange rates in a scheme involving some of the world’s biggest banks. The settlement announced Friday by the lead law firm in ...
Swiss Voters Reject Proposal To Replace VAT
March 13th, 2015
Swiss voters have resoundingly rejected a proposal to replace the value-added tax with an emissions-based levy. A referendum on the popular initiative, known as “Energy Rather than VAT,” was held on March 8. Had it been accepted by voters, ...
Pru’s boss jumps into Swiss role
March 10th, 2015
Prudentail boss Tidjane Thiam is set to leave the FTSE 100 giant later this year to head Swiss banking titan Credit Suisse, it emerged last night. The surprise exit, which would bring the curtain down on a six-year tenure at the ...
Annual result of the Swiss National Bank for 2014
March 6th, 2015
The Swiss National Bank (SNB) is reporting a profit of CHF 38.3 billion for the year 2014 (2013: loss of CHF 9.1 billion). The profit on foreign currency positions amounted to CHF 34.5 billion. A valuation gain of CHF ...
Swiss Banks Try to Keep Italian Clients After Tax Deal Is Signed
February 26th, 2015
Swiss asset managers, faced with the prospect of an exodus of Italian funds, have won a reprieve. An agreement to share tax information among the two nations signed Monday means Italy will remove Switzerland from a black list, enabling ...
HSBC bosses Stuart Gulliver and Douglas Flint apologise to MPs over Swiss private banking scandal
February 26th, 2015
Stuart Gulliver, HSBC‘s chief executive and Douglas Flint, the embattled bank’s chairman, have apologised for “unacceptable” practices at its Swiss private banking arm. During questioning by the Treasury Select Committee, Gulliver admitted the scandal had caused “damage to trust” in HSBC, ...
HSBC files: bank chief Stuart Gulliver holds secret Swiss account
February 23rd, 2015
CEO drawn into tax scandal as calls grow to prosecute HSBC for ‘cheating’ the British tax system HSBC’s chief executive Stuart Gulliver sheltered millions of pounds in bonuses in a Swiss bank account, leaked documents have revealed. The 55-year old ...
AForex announcement for pairs with Swiss Franc
February 18th, 2015
AForex has issued an announcement informing that: Effective February 19th, 2015 trading on the following currency pairs will be restored (AUD/CHF, CAD/CHF, CHF/JPY, EUR/CHF, GBP/CHF, USD/CHF). Maximum leverage for the above pairs is set to 1:25. New margin requirements ...
Swiss police raid HSBC’s Geneva office
February 18th, 2015
Swiss police are searching offices of the Geneva subsidiary of HSBC bank in an inquiry into alleged money-laundering. Prosecutors said they are investigating HSBC Private Bank (Suisse) and “persons unknown for suspected aggravated money laundering”. The investigation could be ...
