EU to limit Swiss stock exchange market access
Switzerland and the European Union look set for another row as the EU confirmed it would slap a one year limit on Swiss stock exchange access to its markets. European Commission vice-president Valdis Dombrovskis said 27 member states had agreed to the condition, but the decision has not yet been formally announced. Swiss-EU relations have been strained in recent years by migration and corporate tax disputes, which have bogged down negotiations on how the bilateral relationship will move forwards in future. This includes EU market access - or financial equivalence - for Swiss finance players in the wake of EU regulatory reforms. Swiss public television SRF and the Swiss news agency both reported on Thursday evening that the EU looks set to signal its discontent by limiting financial equivalence to the Swiss stock exchange for a year. “We are indeed proposing to recognise equivalence for a limited period of time, until the end of 2018. It can be extended if there is sufficient ...