Sat, May 28, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Zurich Baker & McKenzie partner gives briefing on regulatory change in Swiss financial world

Wednesday, March 13, 2013

Beverly Chandler, Opalesque London: Marnin Michaels, Practice Group Leader of the Baker & McKenzie Zurich Wealth Management practice, has given a presentation on various types of information exchange agreements that are currently in play globally and their impact on western currencies, particularly as reference currencies.

The briefing began with a discussion of recent developments impacting the Foreign Account Tax Compliance Act (FATCA), examining the new regulation particularly from the Swiss viewpoint. In particular, Michaels looked at the Swiss-US intergovernmental agreement (IGA). Michaels stated, "The intergovernmental agreement may not be perfect, but for the Swiss marketplace was probably the best result that could have occurred."

Michaels also commented that from a tactical perspective it is clear that the Swiss government focused on industries in which they were likely to get movement rather than areas where it is not realistic to expect significant results. "For example, the insurance, fund management and pension industries have effectively been removed from the entire FATCA discussion" he said. "This is extremely significant for very large portions of the financial services sector in Switzerland."

Michaels then discussed in detail the impact on the wealth management sector of the FATCA final regulations issued in January. Of particular concern is that the final ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Performance - Hedge fund ETFs take a battering, Have long-short credit funds delivered?[more]

    Hedge fund ETFs take a battering From ETFStrategy.co.uk: It was a blow for the hedge fund world when Hillary Clinton’s son-in-law Marc Mezvinsky announced he would be closing his Greek-focused fund after it plummeted in value by 90%, just two years after it launched. For passive investor

  2. Americas - Australian banks sending U.S. hedge funds broke, Ryan Puerto Rico ‘rescue’ bill could be windfall for hedge funds[more]

    Australian banks sending U.S. hedge funds broke From SMH.com.au: US hedge funds are not having the best of years. Profits are hard to find, they're underperforming and the punters are losing patience, withdrawing US$15 billion ($20.8 billion) in the March quarter. They're expected to wit

  3. Investing - Billionaire Wilbur Ross likes the look of Chinese bad loans, Hedge funds are still relevant in a diversified portfolio: 4 fundamental criteria for superior manager selection[more]

    Billionaire Wilbur Ross likes the look of Chinese bad loans From Bloomberg.com: U.S. billionaire Wilbur Ross said he’s considering investing in nonperforming loans in China, as Moody’s Investors Service said that the nation has the tools to prevent a financial crisis in the near term. I’

  4. Investing - Blackstone gives pricey Canadian energy and property thumbs down, One of the most concentrated hedge fund bets is getting crushed, Facebook is hedge funds' new tech darling,[more]

    Blackstone gives pricey Canadian energy and property thumbs down From Bloomberg.com: Canada’s energy assets are uneconomic and real-estate markets overvalued, making them less attractive for investment than in the U.S. and elsewhere, according to Tony James, president of Blackstone Group

  5. Study - Only 30% of institutional hedge fund portfolios beat the benchmark[more]

    Bailey McCann, Opalesque New York: A new study from CEM Benchmarking, an independent provider of cost and performance analysis for pension funds, shows that only 30 percent of institutional investors hedge fund portfolios beat the benchmark after fees. The study provides in depth analysis of real