Ethics and governance in the European Financial centers

An analysis of the websites of the CSSF (www.cssf.lu) in Luxembourg and the SFBC (www.ebk.admin.ch) in Switzerland demonstates that the body responsible for the control of the financial sector in Switzerland has no problem to communicate on issues in the framework of press releases or bulletins, which is not the case in Luxembourg where issues are usually either denied or dropped. Hence, the CSSF is unfortunately mute on issues : no example will be provided because this blog is not intended to chuck names. but only to assess if regulation may be effective.

Examples of press releases in Switzerland :
SFBC_orders_removal_of_bank’s_general_manager.2.pdf
SFBC_Reprimands_UBS_over_US_Dollar_Banknotes_Trading.2.pdf
SFBC_has_withdrawn_its_pending_investigation_against_Mr_J...

Examples of Bulletin in Switzerland :
bull47_Suisse.pdf



Due to the exemplarity thanks to the transparence on issues, the financial sector may be much more ethical in Switzerland than in Luxembourg.