The VAV supports the proposed amendment to FINMASA and other decrees in the area of international cooperation in principle, although the VAV clearly advocates that the right to be heard and the right to appeal should only be waived in cases of market abuse.

The third report has now been published on the progress made with the Swiss wealth management industry’s ‘Sustainable finance as an opportunity for wealth management’ initiative, which was launched in 2021. Through their engagement to find solutions to climate change, the 21 banks taking part have continued to build on their initial success. Advances have been made towards implementing the thirteen measures across four key areas – ‘Reducing greenhouse gas emissions’, ‘Offering and advisory’, ‘Training’ and ‘Disclosure’ – that are intended to help meet the targets set under the Paris Climate Agreement.

The Board of the VAV has appointed Manuel Rybach as its new Managing Director. Manuel Rybach, an experienced and well-connected expert in public policy, will take up his new role on 1 January 2025. He succeeds Pascal Gentinetta, Head Public Policy & Stakeholder Management at Julius Baer, who has successfully managed the VAV for ten years in addition to his existing responsibilities at Julius Baer on which he will focus going forward.