Now that non-compliance is no longer an option, the capacity to manage the full implementation of legal regulations has become a matter of strategic importance for those active in financial services. The new enhanced information exchange increases transparency within the industry, which in turn is affecting the behaviour and the demands of regulators and clients. Accordingly, you must standardise and automate your compliance procedures and expand them by introducing interdisciplinary capabilities. These measures will redefine your trust relationship with your clients.
In addition, supervisory and tax frameworks are moving ever closer together, and the pace of international regulation is accelerating. The appeal of a financial services market and the opportunities available to participants depend on the regulatory framework and supervisory practice applying in each jurisdiction. And a financial services provider operating across several jurisdictions faces even greater complexity.
PwC with you all the way
Compliance with binding international standards is one of the primary tasks for financial services – and a key to business success. We can help you realign your resources towards a more promising future whilst not losing sight of the big picture.
It’s been several years since the financial crisis hit and the Swiss financial sector still faces major challenges. A radical rethink is therefore called for, combined with rigorous implementation, in order to ensure the continued success of the Swiss financial sector and market players. We put forward five propositions in an effort to provide a platform for further discussion.