Global

Details

  • Service: Tax, International Tax
  • Type: Regulatory update
  • Date: 1/21/2014

Switzerland - Financial regulations may affect non-financial companies 

January 21:  Swiss companies that are not in the financial services sector need to be aware of effects of certain rules that, at first glance, only appear to affect the financial services industry.

For example, industrial and trading companies may be involved along the supply chain of over-the-counter (OTC) derivatives, which are regulated by the European Markets Infrastructure Regulation (EMIR). Non-financial companies will want to determine whether they are affected by EMIR, as well as similar proposed Swiss legislation (the Financial Market Infrastructure Act).


Likewise, both, non-financial entities as well as financial institutions could be affected by the U.S. law, the Dodd-Frank Wall Street Reform and Consumer Protection Act.





©2014 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to us-kpmgwnt@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now