Other news includes Microsoft state cyberattack appeals, greenwashing claims against Canadian banks, Northvolt files for bankruptcy and Chinese firms expand California presence.

A first port of call for firms wishing to do financial services business in Switzerland – covering regulation, compliance and best practice.

Ordinance sets out obligation to report cyberattacks on critical infrastructure.

The bank was found to have kept information from FINMA, failed to report suspicious activities to their MLRO, and bypassed PEP protocols.

The introduction of the L-QIF in March 2024 is an opportunity for the asset management industry to offer innovative products and strategies.

The GRIP team looks into the crystal ball and does some plain speaking about what the future might bring - this time looking at general trends in enforcement action by regulators globally.

In its report on the bank failure FINMA calls for better regulatory tools and more influence on the governance of the businesses that it supervises.

In response to the findings, the Swiss regulator has published guidance to enhance risk practices.