IMF says Swiss banks should face more inspections

Pedro Gonçalves
clock • 1 min read

Switzerland's financial regulator should control the country's multi-trillion dollar financial industry more closely, according to the International Monetary Fund (IMF), Bloomberg reports. In a rebuke to Finma's approach, The Washington-based body concluded the rule that allows banks to hire auditors for regulatory investigations raised concern. There were relatively few such firms available and they also sold advisory services to the banks, putting a question mark over their independence....

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