Switzerland's cabinet proposed new light-touch regulations for financial technology (fintech) companies on Wednesday aimed at bolstering business and competitiveness. Although a lot is happening in Switzerland and several initiatives, it somehow does not have the radiation and momentum as seen in the way Singapore is approaching it.
Switzerland's cabinet proposed new light-touch regulations for financial technology (fintech) companies on Wednesday aimed at bolstering business and competitiveness. Easing rules could help reduce barriers to market entry and provide more legal certainty for the burgeoning sector, said the finance ministry, which must now turn the changes into draft legislation. Ministry officials said draft legislation could be sent to parliament by mid-2017 after a public consultation. ADVERTISING inRead invented by Teads "We assume that with the steps we have prepared and the commitment we have to the overall financial services industry we can provide a solution that puts us among the top (countries) in the world that regulate this," Finance Minister Ueli Maurer told a news conference in Bern.
http://www.reuters.com/article/us-swiss-fintech-idUSKBN12X123
