Daily news, documents and intelligence about Offshore Financial Centers and those who conduct business in them that you will not find anywhere else.
RSS Feed Print
Swiss bank tells clients to dump US securities...
Posted: Saturday, August 13, 2011

Posted: 8/25/2009 7:57:09 PM

By: Why

Are they going to deprive the traders of cheese and chocolates?


Internal Administrator
Posted: Saturday, August 13, 2011
Joined: 10/12/2010
Posts: 5779

Posted: 8/25/2009 5:10:42 PM

By: Bear

Will this create another market crash?

Posted: Saturday, August 13, 2011

Posted: 8/26/2009 4:27:52 PM

By: Sell, Sell, Sell

This is just a start. Many other banks will follow. It has just become too onerous to deal with US securities for non-US banks. Since the US stock market has had a negative performance over the past ten years, nobody will really miss losing money on US stocks.

Posted: Saturday, August 13, 2011

Posted: 8/26/2009 1:21:06 AM

By: tilssiter

It is a small Swiss private bank, Wegelin, that has decided this...I cannot see how it will cause a market crash because they dont buy on their name but for account of clients..So if a client wants US shares in his portfolio, he'll have to turn to another adviser...With open wealth management platform structure it is easily done.


Jump to different Forum... 

We hunt for red flags in high-value, cross-border finance by monitoring offshore and onshore courts, regulatory actions, offering documents, and other sources - and email you the results.

View Recent Digests

Cayman Court Secrecy: A Huge Red Flag for Foreign Investors & Clients
David Marchant
As any fule kno, the biggest enemy of fraud, corruption, money laundering, and other forms of financial crime is transparency, while their best friend is secrecy. That's why the unprecedented mass sealing of cases that's taking place at the Financial Services Division of the Grand Court of the Cayman Islands is repugnant to anyone with a genuine concern for financial crime.