Financial centres in competition – EU market access as key factor

At their joint annual press conference, ASPB and VAV presented their assessment of Switzerland’s position as a wealth management location compared to its most important competitors: Switzerland scores well with regard to the competitiveness of the environment it offers, yet there is need for action when it comes to its tax policy and data protection regulation. In order to maintain its leading position, Switzerland needs to improve first and foremost its EU market access and the associated need for a stable bilateral relationship with the EU. An institutional framework agreement with the EU is a prerequisite for improving access to the market.