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May 25, 2018
Private Banking Day 2018
Swiss wealth management needs a model for European integration
The third Private Banking Day, held in Lugano and organised jointly by the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV), focused on issues concerning access to the European market and, more broadly, Switzerland’s relationship with the EU. The event brought together leading figures from the worlds of private banking, politics, economics and administration and showcased the canton of Ticino.
Press release Speech by Yves Mirabaud, President of the ASPB
January 18, 2018
Press point 2018
Boosting private banks with a programme of reforms and differentiated regulation
At their fourth annual joint press conference in Berne, the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV) today presented the priorities of Swiss banks offering wealth management services for securing their future in an ever more demanding environment. The associations explained that implementing differentiated regulation and market access in particular would boost the competitiveness and vitality of Swiss private banks. The Chairmen of the two associations, Yves Mirabaud and Boris Collardi, took turns to outline a number of approaches for the future.
Press release Speech by Yves Mirabaud, President of the ASPB Speech by Boris Collardi, President of the VAV
October 27, 2017

Withholding tax refund rules should be expanded

Latest News
Though a step in the right direction, the draft law currently circulated for consultation by the Federal Department of Finance, which aims to relax rules regarding the refund of the Swiss withholding tax, does not go far enough. The Federal Council should reformulate its draft to better reflect the role of the withholding tax as a guarantee – one that is no longer needed once income taxes have been paid. In doing so, the government would more closely follow the intent of the parliamentary initiatives underlying this law, which requested that the right to claim a refund be retained "provided earnings are taxed."
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The Director's blog

Jan Langlo writes a monthly financial column on the magazine Bilan's website. We invite you to read it by clicking on the link below.
More information (FR)
March 27, 2017

Automatic exchange of information

Yes, after a final verification !
Since 1 January 2017, banks have been collecting tax information for 38 countries. The government proposes to add another 41 next year, in keeping with Switzerland’s commitments. However, the authorisation to be issued by Parliament does not exempt the government from verifying the existence of a level playing field and data confidentiality before information is exchanged in September 2019.
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January 26, 2017

Press point 2017

Brexit and a changing environment call for a resolute financial centre strategy
At their joint press conference today, the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV) have outlined how the Swiss financial centre must prepare the future. In particular, the question of market access remains crucial for the banks. And in order to enable the sector to continue its successful operations, three current topics are of vital importance : the approval of CTR III, stable relations with the EU and the rapid implementation of the FinSA/FinIA package.
President speech Press release Facts and figures
September 16, 2016

Counterproposal to the Matter initiative

It’s up to the Swiss people
On 5 September 2016, the consultation on the direct counterproject to the initiative "Yes to the protection of privacy" came to an end. The Association of Swiss Private Banks (ASPB) takes position neither for nor against the counterproject, in the belief that it is not the banks who should express their opinion but rather the citizens and taxpayers of this country, to whom banking secrecy belongs.
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June 10, 2016

Private Banking Day 2016

Private banking – an export industry like any other
The future of wealth management in Switzerland came under the spotlight at the first Private Banking Day. As a largely export-led business, private banking is reliant on the access to the European single market and the flexible recruitment of qualified specialists also from abroad and, in particular, the EU. Invites to the Private Banking Day in Geneva were issued jointly by the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV-ABG). The event was attended by renowned exponents from the worlds of private banking, science, politics and administration.
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Bern, January 14, 2016

Press point 2016

Private banking as a key export industry for Switzerland
At their joint press conference, the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV) focused on two issues which will play a significant role in shaping their sector over the next few years. On the one hand, it was clearly demonstrated that Swiss private banking exhibits all of the characteristics of a classic export industry. It is thus reliant on being able to export its services without hurdles, in particular to EU countries. On the other hand, the scope of banking secrecy is now also an issue for Swiss clients. It is up to Switzerland’s citizens to decide on the country’s general approach in this regard when they vote on an upcoming popular initiative. Whether the initiative is passed or not, the private banks wish the tax system to remain coherent.
Press release Speech by Yves Mirabaud, President ASPB
June 25, 2015

A new Director for the ASPB

Jan Langlo will lead the Secretariat
On 1 July 2015, Jan Langlo will become the new director of the Association of Swiss Private Banks (ASPB). He joined the ASPB in January 2014 as deputy director. Since then, he has focused on defending the interests of banks specialising in wealth management. The ASPB is delighted to benefit from Jan Langlo's extensive experience of fiscal and banking policy matters, which he has followed closely for the past several years at the national level, as well as his in-depth knowledge of the issues that most directly affect the ASPB and its members. He will replace the outgoing director Michel Dérobert, who will retire at the end of the year, after 25 years of tireless efforts on behalf of private banks. The ASPB thanks him warmly for his service.
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April 21, 2015

Automatic exchange of information

With which countries?
The OECD and the G20 have decided to encourage the automatic exchange of information (AEI) to combat tax evasion worldwide. On 19 November 2014, Switzerland became the 52nd nation to sign the Multilateral Competent Authority Agreement (MCAA), which defines the principles of AEI. Consultation regarding the ratification of the agreement and the draft federal law for implementation ends on 21 April 2015. The central question for Swiss private banks is: to whom will Switzerland grant AEI?
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April 15, 2015

Change at the head of the Association of Swiss Private Banks

Yves Mirabaud named as new Chairman of the ASPB
Yves Mirabaud, Senior Partner of Mirabaud SCA, has been named Chairman of the Association of Swiss Private Banks. The ASPB expects to benefit greatly from the experience and support of this energetic and forward-looking individual.
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March 31, 2015

Withholding tax reform

The people should decide
Towards the end of 2014, the Federal Council initiated a consultation on its proposal for reforming the withholding tax, which would all but abolish this tax for non-residents while considerably broadening its scope for Swiss residents. The Association of Swiss Private Banks (ASPB) supports the first objective, but considers the second overly complicated and potentially unnecessary.
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January 30, 2015

Press point 2015

Press release
On the occasion of their joint press conference, the Association of Swiss Private Banks (ASPB) and the Association of Swiss Asset and Wealth Management Banks (VAV/ABG) presented the future outlook and framework conditions required to maximise opportunities for the Swiss wealth management industry. Though the financial sector is currently undergoing rapid change, it is more than ready to meet the challenge.
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January 21, 2015

OECD standard on the exchange of information on request

A line that should not be crossed
On 19 February 2014, the Federal Council decided to apply the OECD standard on the exchange of information on request to all states with an existing double taxation agreement (DTA) that does not include said standard. The consultation on the draft law to implement this decision will extend until 5 February 2015. The ASBP views this project as unnecessary and contrary to the interests of Switzerland.
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January 20, 2015

How to reinforce the swiss financial centre

Chairman speech
Christoph B. Gloor, Partner, La Roche & CO SCA, BaselSwitzerland has shown it can be highly competitive. Its strength lies in its openness and stability, as well as in the predictability of its legal framework.
The Swiss financial centre ranks first in the world of wealth management. To maintain its lead, our country must have the discipline to compare itself, in all areas that count, with its competitors, which would be only too eager to take its place.
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October 17, 2014

The new structure of swiss financial legislation

A tree in need of pruning
On 27 June 2014, the Swiss Federal Council submitted for consultation two new draft acts on financial services (FSA) and financial institutions (FinIA). Under the guise of a conceptual restructuring, these drafts include many provisions prejudicial to the Swiss financial industry. Their texts need further pruning before they are submitted to Parliament in 2015. However, Parliament can first focus on passing the Financial Markets Infrastructure Act (FMIA), which is urgent.
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September 23, 2014

Automatic exchange of information

Mastering the new reality
The OECD and the G20 have endorsed automatic exchange of information to fight against tax evasion worldwide. On 6 May 2014, the Swiss Federal Council announced that it intends to adopt the new standard, along with 65 other countries. Its implementation in Switzerland must steer clear from excessive naiveté.
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March 27, 2014

Swiss financial market infrastructure act

An issue of competitiveness
In December 2013, the Swiss Federal Council launched a process of consultation on the draft Financial Market Infrastructure Act (FMIA). The Association of Swiss Private Banks (ASPB) recognises the necessity to adapt Swiss legislation to international standards and emphasises that this adaptation should aim to maintain the competitiveness of the Swiss financial centre.
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January 16, 2014

Press point 2014

Speech by Christoph B. Gloor, Chairman
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December 4, 2013

Changes in the Associations representing Private Bankers

Creation of the Association of Swiss Private Banks
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June 7, 2013

Annual General Meeting 2013

Chairmann speech (document in French only)
Nicolas Pictet, Associé, Pictet & Cie, Président de l’ABPS Les grands virages législatifs se négocient aujourd'hui en dehors de nos frontières. Pour ne pas subir il faut participer. Pour être à la page il faut anticiper. Nous sommes aujourd'hui victimes d'une course de rattrapage. D'une façon ou d'une autre la Suisse doit retrouver sa place dans le monde et redevenir une force de proposition. Un pays isolé ne peut en effet protéger avec efficacité une industrie globalisée.
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January 17, 2013

Press point 2013

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