Related Articles
Forward article link
Share PDF with colleagues

Testing times for Swiss-based traders as scrutiny increases

Switzerland struggles to adapt to increased regulation and transparency rules

As the spotlight focuses on Switzerland’s response to financial regulation, sanctions on Iran and tax, so too have the Swiss-based major commodity trade houses found themselves under increasing scrutiny. A light-touch regulatory regime, low corporate taxes and reputation for discretion has helped Switzerland become one of the world’s major commodities trading hubs, and Geneva into an oil-trading centre, handling about 35% of total global volume. Glencore, Vitol, Trafigura, Mercuria and Gunvor all have oil-trading operations in Switzerland and have, while clocking up profits, seen no need to trumpet their successes. But things are changing. Over recent years, Swiss trading firms have altere

Also in this section
Tech firms ride North Sea revival
14 August 2018
Rising technology firms are offering innovations that meet the efficiency needs of North Sea operators
UK industry looks to tech collaborations
14 August 2018
An Aberdeen-based group is encouraging tech-based solutions to maximise recovery from the UK continental shelf
OMV provides faint light in Yemen gloom
13 August 2018
Austria's OMV, the first IOC to return to Yemen since the war started, has resumed limited exports