Bumpy ride expected as Libor reaches end of road
Heavy reliance on contractual fallbacks leaves market facing series of post-cessation risks
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Heavy reliance on contractual fallbacks leaves market facing series of post-cessation risks
May 13 2021 Upon its entry into force on January 1 2020, the Swiss Financial Services Act (FinSA), first, significantly changed the regulatory regime applicable to financial service providers in Switzerland and, second, introduced a new and modern regime for the offering of financial instruments. Financial services Among other things, the FinSA introduced regulatory requirements for all persons and entities providing financial services (as such term is defined in the FinSA) on a commercial basis in Switzerland or for clients in Switzerland (financial service providers)...