Reported about 7 hours ago
Swiss lawmakers are pushing back against proposed anti-money laundering regulations, arguing they could undermine the country's competitiveness in global wealth management. With rising competition from financial centers like Singapore and the UAE, legislators are concerned that strict compliance with international standards may burden the Swiss economy. The focus on maintaining competitiveness has intensified since U.S. tariffs were implemented. Lawmakers have expressed that while financial transparency is important, it should not come at the cost of over-regulation that could harm Switzerland's status as a leading financial hub.
Source: YAHOO