Ethics and governance in the European Financial centers

Pierre Darier, who is the chairperson of the Bankers association in Switzerland, did not recognise the FATF's authority in a recent speech.
Switzerland has already introduced rules to combat money laundering and terror financing, but the bankers called even stricter proposals by the Financial Action Task Force (FATF) uneconomical.

Pierre Darier criticised a plan to make any market abuse such as insider dealing or price manipulation a crime rather than just an offence, saying not everything that went wrong in markets was because of criminal intentions.

See speech (in French)