It was expected, or at least there was wishful thinking, that MiFID II (2014/65/EU) and GDPR (Regulation (EU) 2016/679) would be the regulatory summit for our high mountain region. However, the European Regulator is continuing to pursue its overall goal of strengthening the regulatory framework in the European Union, which, in turn, is having a major impact on the Swiss financial industry.
As the Swiss FinTech industry grows rapidly, uncertainty spreads across the traditional banking industry. Should Swiss banks do business with blockchain companies? On 20. September 2018, the Swiss Banker Association has published compliance related guidelines.