On our microsite you will find the most important information regarding market developments, services, and our business performance.
KPMG's Swiss Code of Conduct outlines the ethical principles that define our business activities.
In this issue of iCircle magazine we cover the multiple changes that currently impact the Swiss insurance industry.
The current issue of SFSN addresses the impact of the automatic exchange of information on Swiss private banking.
This publication gives you an overview about the coming changes regarding the new financial reporting act.
With this publication we aim to make it easier for you to read and comprehend annual reports.
Do you already know everything about us and want to waste no more time? We look forward to receiving your online application.
Audit, Tax, Advisory, Corporate Services – how do you plan to begin? Choose your career at KPMG.
Want to meet the people behind KPMG? We will be pleased to share our professional experiences with you.
The implementation costs of the existing rules (if not already implemented) as well as the upcoming regulations will be significant and typically cannot be passed on the clients. Given the current low interest and low margin environment, these costs can become as significant that it is no longer sensible to operate in a certain market (or to provide services to a certain customer group).
The complexity of the regulatory framework in which a bank is operating, has achieved a level, where the mitigation of the risk of non-compliance to an acceptable level has become more and more difficult. Furthermore, compliance costs have increased so significantly, that they can become a decisive factor if a bank is competitive in a given market. Given the recent trends in regulations as well as the sanctions taken (and or currently discussed), it will be important that:
Compliance costs can be minimized by limiting the business to key markets and the streamlining of projects to implement the given rules and regulations in an efficient way. The selection of key markets is performed during an impact analysis. The costs associated with the individual markets in which a financial institution operates, is thereby compared to the income currently (and planned to be) generated.
To evaluate these costs, the most effective way of implementing the required regulations is considered by identifying the existing synergies between the individual requirements and/or markets. A standardized framework builds the basis to systematically assess the individual regulations and enables a working group or committee (“the compliance committee”) to identify these existing synergies.
The “compliance committee” represents a meaningful solution for gathering and implementation of the regulatory requirements. We support you in structuring and implementing the committee, that will have the following functions:
Furthermore, we will provide your committee members with the required information and training on the regulations applicable to your organization as well as the framework that will enable the committee to perform its main activities.
Partner, Head of Regulatory Services, Audit Financial Services
+41 58 249 41 06
Partner, Audit Financial Services
+41 58 249 36 95
KPMG Holding AG/SA, a Swiss corporation, is a member of the KPMG network of independent firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss legal entity. All rights reserved. The KPMG name and logo are registered trademarks.
KPMG International Cooperative (“KPMG International”) is a Swiss legal entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.