SP parliamentarian Susanne Leutenegger Oberholzer on Monday asked parliament to discuss a ban on investment banking as part of a debate on tough new capital laws aimed at preventing a repeat of the government bailout of UBS in the financial crisis.
"One of the large risks for the financial centre is investment banking," she told parliament, adding that the threat which a single staff member can pose to a large bank was clearly demonstrated by the UBS alleged rogue trade incident.
But parliament narrowly rejected her bid to reopen the debate with 55 votes against the motion, 42 in favour and six abstentions, meaning she will have to present her proposal to ban investment banking in a new legislative process.
For more: Switzerland rejects bid to ban investment banking | Reuters
No comments:
Post a Comment