Switzerland Tops Index for Compliance with International Financial Regulations

A Leader in Global Financial Sector

Switzerland has solidified its position as a leader in the global financial sector by topping a prestigious index ranking countries’ compliance with international financial regulations. The Global Financial Regulatory and Transparency Compliance Index (GFRTCI) is a comprehensive assessment of 31 countries that are members of both the OECD and Basel Committee on Banking Supervision.

Top-Ranked Countries

For the second consecutive year, Switzerland has emerged as one of the top-ranked countries alongside Finland, Sweden, Denmark, Estonia, the UK, and Canada. The EU has made significant strides in implementing the Basel III framework, with seven out of the top ten ranked countries being EU members.

GFRTCI Index: A “Meta Index” for Compliance Standards

The GFRTCI index is a unique approach that aggregates publicly available data from credible sources to provide an accurate picture of each country’s compliance standards. This enables policymakers and financial institutions to identify areas for improvement and track progress over time.

How the GFRTCI Index Works

• Aggregates publicly available data from credible sources
• Provides an accurate picture of each country’s compliance standards
• Enables policymakers and financial institutions to identify areas for improvement and track progress over time

Recognition from Experts

“We’re thrilled to see Switzerland’s efforts recognized in the global financial community,” said Alfred Mettler, a finance professor at the University of Miami and adjunct professor at the Swiss Finance Institute (SFI). “This ranking confirms that our regulatory framework is robust and effective in preventing money laundering, tax evasion, and other illicit activities.”

Commitment to Transparency

Markus Bürgi, a member of the SFI management board, emphasized the importance of the GFRTCI index in guiding policymakers and promoting best practices in financial regulation. “This ranking sends a strong signal that Switzerland is committed to maintaining high standards in financial regulation, transparency, and compliance,” he said.

A Shift in Perceptions

While the GFRTCI index has not yet changed Hollywood’s portrayal of Swiss banks as secretive and opaque, it may help shift perceptions over time. As Mettler noted, “We hope that this recognition will finally convince Hollywood and fiction writers that Switzerland is a leader in financial regulation and transparency.”