Financial Times, 26 Nov 2008, Raphael Minder
Singapore should expect tougher international scrutiny of its banking secrecy rules, as the Asian city-state continues to expand its wealth management and private banking businesses, according to the chief executive of the Swiss Bankers Association.
Comparing Switzerland and Singapore, Urs Roth said in an interview with the Financial Times: “Singapore is not getting as much attention at the moment, perhaps because they are still smaller than Switzerland. But I would guess that it is a question of time.”
Speaking in Hong Kong at the end of a tour of Asian financial centres, Mr Roth said Singaporean banking secrecy provisions “are probably even stronger than the ones in Switzerland”.
Read More
