Programme day three

Wednesday, September 19th 2012

Post-conference day:

Compliance Management and Customer Relationship Management – Current challenges and improved information sharing in the future

Compliance is becoming a significant burden on private banks wherever they are based. The compliance function is no longer limited to Anti-Money Laundering controls and avoidance of terrorist funding. As governments change in the developing world, networks fray and individuals previously regarded as quality clients have their credentials called into question. How should a bank react? In the developed world there is greater focus on private individual tax compliance with a consequential focus on the role of offshore private banks in aiding individuals to evade taxation in their home country. The attacks on private banks are unprecedented in number and strength.

In an ever-more globalised world it is not possible for a bank simply to hide behind a jurisdictional fire wall and rely on the protection of an (often small) country or territory’s legal system. The fate that befell Swiss based Wegelin Bank in early 2012 has changed the rules of offshore private banking for ever. With the US, UK and German governments already active in seeking personal information through varied means and the implications of FATCA far from certain, compliance and regulation now pose a significant threat to the traditional offshore private banking model.

This day will focus on the issues facing private banks in an increasingly globalised environment where legislation has the power to cross national boundaries. Talk to the leading edge practitioners in this constantly evolving field.


Reception with coffee and tea and croissants
Distribution of conference documentation


Welcome and introduction of the conference theme by the chairman:
Compliance – where is the international regulation of money flows headed?

Osmond Plummer, Managing Director, Faculty Member of the European University in Geneva and Swiss correspondent of

Global compliance developments for financial institutions – Keeping abreast of the compliance trends and a focus on traps/ tips in the business structuring context


FATCA-QI for compliance officers and relationship managers: an opportunity or nightmare?

  • Impact of FATCA generally on financial institutions around the world
  • New proposed FATCA regulations (expected by September 2012)
  • Analysis of draft foreign financial institution agreement (anticipated release before September 2012)

William M. Sharp Sr., Partner, Sharp Kemm P.A. (CH/USA)


MiFID II – Client benefits in focus of your strategy Rational: MiFID II should not only be seen as a regulatory hurdle but also as a client benefit

Rolf Wietlisbach, Director FS Strategy & Operations, PricewaterhouseCoopers (CH)


Break with coffee and tea


Compliance and Economics: Understanding the Cash Flows of Terrorism

  • Todays’ norms force financial institutions to monitor cash-in, cash-thru, cash-out to fight financing of terrorism
  • Understanding the phenomenon including costs and financial flows of terrorism will show that this approach will not raise global security

Prof. Dr. Sita Mazumder, Professor of Banking and Finance, Institute for Financial Services Zug (CH)




Apéritif and Lunch

13.15 -13.45

Information Exchange, FATF, OECD: Understanding the gauntlet of developments and their impact on business models
Discussion of the impact on business models of the following: OECD standards and no-names basis requests, availability of beneficial ownership and identity definitional issues, confidentiality of information issues (authorities publishing, losing or sharing received data), FATF recommendations, FATCA inter-governmental arrangements, and EU automatic exchange approach

Lyubomir Georgiev, Senior Associate, Baker & McKenzie (CH)

Setting up bespoke compliant solutions – Financial services offerings in key markets


Swiss Private Banking Model for US persons: US securities law and tax laws

  • US regulatory registration requirements and exemptions – from the perspective of a non-US financial institution
  • Important changes triggered by the Dodd-Frank Act of 2010
  • Taxation of US persons on worldwide income: tax filing duties and enforcement obstacles

Dustin Milne, Head of Legal and Compliance, Vontobel Swiss Wealth Advisors (CH)


How to achieve regulatory compliance in Canada – the proactive approach of a Swiss based Asset Manager

  • Regulatory environment in Canada
  • Risks of non-compliance with Canadian laws and regulations
  • How to achieve compliance with Canadian law and regulations
  • Q&A

Robin Züger, Managing Director, Dynamic Tree Asset Management, (CH/Canada)


Discussion and summary


End of post conference day