Newsletter June 09: Weakened banks provide “opportunity” to push regs

MONTREUX – A top Swiss regulator has frankly admitted that he and regulators elsewhere intend to use the current “window of opportunity” to achieve the “things that we believe need to be pushed through,” while the finance industry is relatively weak and least able to resist. The admission came from Daniel Zuberbühler, vice-chairman of the Swiss Financial Markets Supervisory Authority (FINMA), addressing the annual meeting of the International Capital Markets Association, a self-regulatory organisation, in Montreux, Switzerland.