Cross-border services have always been an important pillar of the Swiss banking industry. In the wake of the latest financial crisis, various countries have issued strict provisions for political, protectionist or fiscal motives in order to stay active on their financial markets. As a result, Swiss banks with international client bases see themselves confronted with a multitude of country-specific regulations.

Cross-border banking services are subject to extensive controls in an increasingly tightened regulatory environment. Strict compliance with respective local provisions is a central topic.

• Legal- and reputational risks arise from complex law structure
• Risk minimizing measures must be applied on asset management, investment advisory services as well as wholesale and retail services
• Establish a holistic cross-border framework consisting of an analysis, adequate measures and tools, monitoring and sanction mechanisms
• Identification of risks arising from the involvement of further financial intermediaries (Due Diligence, Know your Intermediary”).

• Risk analysis for identification of legal and reputational risks
• Preparation of appropriate principles for strategic decision-making
• Implementation of measures, e.g. internal directives, country manuals, employee training, travel processes, cross-border control framework, escalation processes
• Monitoring compliance with cross-border framework
• Regular update of relevant concepts; sanctioning of breaches

Find here our Cross-Border Service Portfolio for download: