Swiss Federal Banking Commission  deutsch franšais
Druckversion
,

News 2003

 
December 29, 2003
Elections to the Takeover Board
The SFBC has elected the members of the Swiss Takeover Board for the 2004-2007 term of office.
Media release
 
 
December 22, 2003
Capital adequacy based on financial statements established according to international standards
The SFBC has accepted to calculate the capital adequacy based on the financial statements established according to recognized international standards. A reconciliation has to be performed.
SFBC-Newsletter No. 3 2 (German or French)
 
 
December 19, 2003
SFBC is publishing for comment the circular "Reporting duty"
The SFBC decided to issue a circular to clarify open questions of interpretation concerning the correct fullfilment of the duty to report on and off orderbook transactions (exchange transactions). Therefore, the SFBC is publishing for comment a draft of a circular about the "duty to report exchange transactions".
Covering letter (German or French)
Draft version SFCB-Circular (German or French)
 
 
December 16, 2003
The SFBC is publishing for comment proposed guidelines on market abuse.
The SFBC decided to issue guidelines on market abuse. The SFBC is publishing for comment the said proposed guidelines.
Covering letter (German or French)
Draft version SFCB-Circular (German or French)
Annex (German or French)
Zum Seitenanfang
 
December 15, 2003
SFBC launches consultation concerning new payments means and systems
The SFBC intends to add a paragraph 16bis to its Guideline 96/4 in order to clarify that, subject to certain conditions, the acceptance of funds for the provision of payments means or systems will not be considered as accepting deposits from the public.
Letter of consultation (German or French)
Zum Seitenanfang
 
November 12, 2003
SFBC-Newsletter no 31
The Financial Action Task Force (FATF) has updated the list of non-cooperative countries and territories regarding money laundering and has decided to impose measures against Myanmar . The SFBC invites all financial intermediaries under its supervision to pay particular attention and to apply increased diligence.
SFBC Newsletter no 31 (German or French)
Zum Seitenanfang
 
October 30, 2003
Switzerland is continually adapting its measures in the fight against money laundering
The fight against money laundering continues. Not only international standards but also national measures to combat money laundering are continually being adapted to meet the new challenges. This was the conclusion reached by the Federal Authorities involved in the fight against money laundering at a media orientation event on Thursday.
Media release (GermanFrenchItalianEnglish)
Pamphlet (GermanFrenchItalianEnglish)
Zum Seitenanfang
 
October 17, 2003
Consultation on two proposals modifying the SESTO-SFBC and the O-TB
The SFBC has drafted two proposals modifying the Ordinances concerning takeovers and disclosure of shareholdings. The SFBC has taken into account the extensive practice developed since the entry into force of the Ordinances on 1 January 1998.
Letter of consultation (German French)
Proposal modifying the SESTO-SFBC (German French)
Proposal modifying the O-TB (German French)
Zum Seitenanfang
 
October 14, 2003
SFBC-Circular "Credit Derivatives" will come into force
The SFBC issued new guidelines for the use of guarantees and credit derivatives and decided to put them into force by March 31, 2004. From the second quarter 2004 on-wards, all banks and securities firms must comply with these guidelines.
Covering letter (GermanFrench)
SFBC-Circular Credit Derivatives (GermanFrench)
Appendix (GermanFrench)
Zum Seitenanfang
 
September 30, 2003
SFBC survey on banks and securities dealers' external audit costs
The SFBC surveyed the audit costs charged by audit firms to banks and securities dealers. The results relating to business year 2001 are now available. The increase in the costs shown, can be explained by the higher complexity and broader range of risks, the increase in business volumes and increasing density of regulations.
Analysis of the survey results (German)
Chart 1, Chart 2, Chart 3, Chart 4
Chart 5, Chart 6, Chart 7, Chart 8
Chart 9, Chart 10, Chart 11, Chart 12
Zum Seitenanfang
 
September 26, 2003
The revised Ordinance on Fees charged by the SFBC enters into force on the first of November
Today, the Federal Council has adopted a partial revision of the Ordinance on Fees charged by the SFBC (OF-SFBC). The new provisions increase the maximal fees that can be charged by the SFBC and take into account the procedural changes made in processing enforcement and international cooperation cases as well as in the context of on-site inspections.
OF-SFBC (German / French)
Newsletter from the Federal Department of Finance (German / French)
Zum Seitenanfang
 
September 11, 2003
SFBC puts out five audit circulars for comment
The SFBC today publishes the draft versions of five circulars relating to the audit process. The SFBC-Circular "Auditing" describes the object and procedure of the annual auditing of banks and securities dealers on an individual and group basis. The form and content of audit reporting is governed by the SFBC-Circular "Audit Report", which is to replace the currently valid SFBC-Circular 96/3 Audit Report. The SFBC-Circular "Audit Companies" sets out the details of the recognition of audit companies and leading auditors as well as of the independence, supervision, appointment and changing of audit companies. Finally, the SFBC-Circular "Big Bank Supervision" describes the reporting requirements of the big banks, the regular contact between the big banks and the SFBC, direct audits and in-depth audits. The SFBC-Circular "Self-Regulation" contains minimum standards and defines the rules and codes of conduct drawn up within the context of self-regulation and recognized by the SFBC as binding minimum standards.
Covering letter (German only)
draft version SFBC-Circular Audit (German / French) , Annex I (German / French) - Annex II ( Germa / French)
draft version SFBC-Circular Audit Report (German / French) , Annex I (German / French) - Annex II (German / French) - Annex III (German / French)
draft version SFBC-Circular Audit Companies (German / French) , Annex I (German / French) - Annex II (German / French) - Annex IIIa (German / French) - Annex IIIb (German / French) - Annex IV (German / French ) - Annex V (German / French)
draft version SFBC-Circular Big Bank Supervision (German / French) , Annex I (German / French)
draft version SFBC-Circular Self-Regulation (German / French) , Annex I (German / French)
Zum Seitenanfang
 
September 10, 2003
SFBC-Newsletter no 30
Regarding Basel II, the SFBC asks all banks and securities firms, whether they are planning to determine their regulatory capital requirements using internal methods (i.e., IRB approach for credit risk and AMA for operational risk, respectively). Institutes opting for these methods need an approval given by the SFBC only after a thorough examination. 
SFBC-Newsletter No. 30 (German or French)
Zum Seitenanfang
 
August 18, 2003
SFBC presentation on the international fight against money laundering
At a roundtable discussion organized on May 28, 2003 by the International Monetary Fund with representatives of supervisory authorities and international organizations, the SFBC presented its remarks on current issues in the international fight against money laundering.
Presentation
Presentation slides
Zum Seitenanfang
 
August 15, 2003
Takeover Chamber of the SFBC confirms a recommendation of the Takeover Board concerning Zimmer / InCentive
By decision dated August 15, 2003, the Takeover Chamber of the SFBC confirms the Takeover Board's recommendation III, dated July 2, 2003 concerning Zimmer / InCentive, clarifying both bidders' rights and the evaluation of the Net Asset Value of InCentive.
Decision of the Takeover Chamber (in German only)
Zum Seitenanfang
 
July 24, 2003
Takeover Chamber confirms recommendation of Swiss Takeover Board in the Centerpulse case
The Takeover Chamber confirms the recommendation of the TOB concerning Zimmer Holdings Inc. / InCentive Capital Ltd dated June 11, 2003, which states that the four ma-jor shareholders of InCentive are free to accept any competing offer for Centerpulse and/or InCentive.
Media Release
Decision of the Takeover Chamber (in German only)
Zum Seitenanfang
 
July 8, 2003
Special issue of the SFBC concerning combating money laundering
The latest bulletin of the SFBC (No. 44) is published. It concerns combating money laundering.
SFBC-bulletin No. 44
Zum Seitenanfang
 
July 1 , 2003
Basel II: SFBC Presentations
The SFBC presented the contents of the Third Consultative Paper of the Basel Committee on Banking Supervision during a seminar "Basel II: From Vision to Reality", jointly organised with the Swiss Bankers Association (SBA). Below you have access to the corresponding presentation slides.
Basel II: Overview (German)
The Standardised Approach to Credit Risk (German)
The Internal Ratings-Based Approach to Credit Risk (German)
The New Capital Adequacy Rules for Operational Risks (German)
The Results of the Third Quantitative Impact Study (German)
Basel II: Swiss Implementation (German)
Zum Seitenanfang
 
June 25, 2003
SFBC-Circular "Public advertisement / Investment Funds" will come into force
Of July 1, 2003, the new Circular "Selling funds to the public as defined by the Investment Funds Legislation" will become effective. The Circular defines, when funds have to be considered as being sold "to the public" which requires an authorisation for the fund-product and/or the activity as a so-called distributor of funds. It also clearly explains in whichs cases and subject to which conditions foreign funds may be sold without an authorisation. For the first time ever, the SFBC addresses the topic "fund distribution throught the web". Moreover, the Circular points out that the indirect selling of funds will require an authorisation as a distributor as well.
Covering letter (German or French)
SFBC-Circular "Public advertisement / Investment Funds" (German or French)
Zum Seitenanfang
 
June 19, 2003
SFBC decision concerning Bank Vontobel AG / Think Tools dated 19 March, 2003
The SFBC publishes today its decision dated 19 March, 2003 concerning the allocation of Think Tool AG shares by Bank Vontobel AG. The decision will also be published in Bulletin No. 45.
Decision of the SFBC (in German only)
Zum Seitenanfang
 
June 13, 2003
Media Release: The Takeover Chamber requires that a mandatory offer shall be presented to the shareholders of Quadrant SA
The Takeover Committee of the SFBC requires that three Quadrant's shareholders shall present a takeover offer to the other shareholders. The Takeover Chamber confirms the recommendation of the Takeover Board.
Media Release
GermanFrench
Decision of the Takeover Chamber (in German only)
Zum Seitenanfang
 
May 13, 2003
SFBC-Newsletter no 29
Disclosure of clients assets : The SFBC has adopted the table, which has to be disclosed since the end of 2003 by the banks, whose income proceeds significantly from the commissions from security trading and investment activities. This decision completes the updating-process of the guidelines concerning the provisions governing the preparation of financial statements (see SFBC Newsletter no 24).
Table
GermanFrench
Zum Seitenanfang
 
May 2, 2003
Press conference of the SFBC
On May 2, 2002, the SFBC released its Annual Report 2002 and held a press confer-ence. The chapter on the key themes of the report is available in an English translation. The full report may be consulted in either German or French . The presentations given at the press conference are available hereunder in German or French.
Kurt Hauri , Chairman of the SFBC
The sanctioning system of the supervisory authority – towards a more modern arsenal of instruments
GermanFrench
SFBC report on sanctions (Summary)
Jean-Baptiste Zufferey , Vice-Chairman of the SFBC
Questions and developments in banking audit
GermanFrench
Daniel Zuberbühler , Director
The repercussions of the bear markets on banks and securities dealers in Switzerland
GermanFrench
Annex I (GermanFrench)
Annex II (GermanFrench)
Zum Seitenanfang
 
March 28, 2003
SFBC-Newsletter no 28
The Financial Action Task Force (FATF) has updated the list of non-cooperative countries and territories regarding money laundering and has decided to withdraw the counter-measures of 20 December 2002 against Ukraine. The SFBC invites all financial intermediaries under its supervision to pay particular attention and apply increased diligence to relations involving non-cooperative countries and territories regarding money laundering.
SFBC-Newsletter no 28
GermanFrench
Zum Seitenanfang
 
March 27, 2003
Report of the SFBC on Money Laundering
The SFBC publishes today the explanatory report concerning the ordinance on money laundering (MLO-SFBC) which is set to enter into force on July 1, 2003. Annex I indicates the principal modifications adopted since the draft ordinance that was circulated for consultation. Annex II contains the text of the ordinance as it will soon be published in the Official collection of federal law.
Report
GermanFrench
Annexe I
GermanFrench
Annexe II
EnglishGermanFrench –  Italien
Zum Seitenanfang
 
February 27, 2003
Media Release: SFBC investigates BCV affair
The SFBC has launched an investigation in response to the conclusions reached by the Bernasconi report on Banque Cantonale Vaudoise (BCV) and the serious allegations made against BCV's management and its audit company Ernst & Young.
Media Release
Zum Seitenanfang
 
February 3, 2003
SFBC Newsletter no 27
The Financial Action Task Force (FATF) has updated the list of non-cooperative countries and territories regarding money laundering and has decided to take counter-measures against Ukraine. The SFBC invites all financial intermediaries under its supervision to pay particular attention and apply increased diligence to relations involving Ukraine.
SFBC Newsletter no 27
GermanFrench
Zum Seitenanfang
 
January 29, 2003
SFBC Newsletter no 26
The SFBC updates the list of self regulation standards considered as minimum requirements that is contained in Annex 1 of the SFBC-Circular 96/3 Annual Report : Form and Content. The compliance of banks and securities dealers to such standards shall be verified by the auditor.
SFBC Newsletter no 26
GermanFrench
Annex I SFBC-Circ. 96/3
GermanFrench
Zum Seitenanfang
 
January 17, 2003
SFBC Newsletter no 25
Following a public consultation procedure, the Swiss Federal Banking Commission (SFBC) has issued a money laundering ordinance which contains more stringent due diligence requirements for banks and securities dealers. The ordinance will take effect on July 1, 2003 and replaces the 1998 money laundering guidelines. In addition, the Swiss Bankers Association has today published the revised Agreement on Due Diligence (CDB 03).
Media Release
SFBC Newsletter no 25
GermanFrench
Annexe
GermanFrench
Money laundering ordinance
EnglishGermanFrenchItalien
Zum Seitenanfang
 
Further information
Publications
Regulation
Archive
News 2004
News 2002
more....