Articles and Studies on Law and Economy of Services


Financial Services

On 2 November 2016, representatives from the four member-states of the European Free Trade Agreement (EFTA) have met in Basel, in order to attend a seminar of the working group on financial services. This meeting was organized by the State Secretariat for Economic Affairs (SECO) and the title was the following: “The development of financial services and customer protection”. Mr. Christian Pauletto, Head of the Services Division at the SECO, started off the seminar with an introductory speech about the history of customer protection, ranging from the early antique until today. The audience has carefully followed the presentation and especially appreciated the originality of the speech. Subsequently, Mr. Marco Franchetti, Swiss Banking Ombudsman, introduced his tasks related to customer protection to the auditors, as well as the main difficulties of the branch. Later on, the participants had the opportunity to obtain an introduction on the optimized regulatory process in Switzerland, presented by Mr. Frank Schmid from the State Secretariat for International Financial Matters (SIF). The auditors were especially interested in this matter, as such a process is not yet established in their countries. Lastly, Mr. Markus Fuchs, Managing Director of the Executive Board of the Swiss Funds & Asset Management Association (SFAMA), allowed the audience to get a short insight into the role of the industry in the domain of customer protection. Those speeches initiated productive discussions, in which the Swiss financial system could be understood and the participants were able to exchange their points of view.

On the following day, the EFTA working group on financial services assembled for its ordinary meeting. Important topics could be tackled and potential questions clarified. As a conclusion of the seminar, Mr. Karl Cordewener, Deputy General Secretary of the Basel Committee on Banking Supervision, presented the objectives of the Committee, keeping the focus on the completion of the measures established within the scope of Basel III.

Marco Franchetti - Customer Protection in Sweitzerland (PDF, 1 MB, 15.12.2016)Presentation by Marco Franchetti, Swiss Banking Ombudsman, at the EFTA Seminar in Basle, on 2 November 2016.

Dr. Frank Schmid - Optimising the regulatory process in Switzerland (PDF, 1 MB, 15.12.2016)Presentation by Dr. Frank Schmid, SFI, at the EFTA-Seminar in Basle, on 2 November 2016.

Markus Fuchs - Developments in Financial Sercies and Customer Protection (PDF, 1 MB, 16.12.2016)Presentation by Markus Fuchs, Swiss Funds & Asset Management Association, at the EFTA Seminar in Basle, on 2 November 2016.

Karl Cordewener - Finalising Basel III (PDF, 666 kB, 16.12.2016)Presentation by Karl Cordewener, Bank for International Settlements, at the EFTA Seminar in Basle, on 2 November 2016.


The History of Derivatives: A Few Milestones (PDF, 810 kB, 14.06.2012)Presentation by Mr. Christian Pauletto, at the EFTA-Seminar in Zurich, on 3.5.2012


Reinsurance, Contractual Relations in the Insurance Sector (PDF, 146 kB, 12.10.2006)Presentation by Mr. Christian Pauletto, at the EFTA-Seminar in Gerzensee, on 12.10.2006

EU-US Transatlantic Trade and Investment Partnership

 

In 2013 the European Union and the United States have launched the negotiations for a wide-reaching trade agreement under the title of "Transatlantic Trade and Investment Partnership" (TTIP or T-tip). These negotiations cover trade in goods as well as trade in services and Investments. All services sectors are included. In 2014, under a mandate from the SECO the World Trade Institute of Berne (WTI) has finalised a study under the title of "Potential Impacts of a EU-US Free Trade Agreement on the Swiss Economy and External Economic Relations", which aims at assessing the consequences of such an agreement on the Swiss economy and her foreign trade.

Below you'll find a summary of this report as well as a media communiqué of SECO of 10 July 2014.

 

Last modification 16.12.2016

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