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According to the EY 2019 Global Wealth Research, more than one-third of the high-net-worth clients globally are considering to switch provider in the next three years. Clients switch for value, but their definition of value is complex. To better help providers build solutions that meet the changing expectations, EY surveyed 2,000 wealth management clients across 26 countries to understand what matters most to them.
After a legislative process of more than ten years since the financial crisis, the Swiss supervisory regulations on consumer protection will enter into force on 1 January 2020. These rules aim to provide an equivalent legal basis to the respective EU-legislation. In June 2018, the Swiss parliament has adopted the final drafts of the Financial Services Act (FIDLEG) and the Financial Institutions Act (FINIG). In addition, the consultation process of the drafts of the related Financial Services Ordinance (FIDLEV), the Financial Institutions Ordinance (FINIV) and the Supervisory Organisation Ordinance (AOV) has been completed at the beginning of February 2019. Small inconsistencies in these ordinances are planned to be adjusted by the Federal Department of Finance until autumn 2019.
The information in this brochure gives a general overview of taxation at federal level and in the canton of Geneva taking into account 2019 rates, unless otherwise indicated. It is aimed at readers with a sound knowledge of Swiss tax law and of the relevant legislation in Geneva and is intended as a source of reference material.
The information in this brochure gives a general overview of taxation at federal level and in the canton of Geneva taking into account 2017 rates, unless otherwise indicated. It is aimed at readers with a sound knowledge of Swiss tax law and of the relevant legislation in Geneva and is intended as a source of reference material.
In our annual review of developments affecting audit committees, we consider the significant responsibilities the committee has in assisting the board in its oversight duty. The review also provides questions for audit committees to consider as they prepare for year-end discussions with the board, management and external auditors.
Members of the Audit Committee Leadership Networks (ACLN) met recently for their annual summit. George Brooks, EY Americas People Advisory Services Leader, joined the meeting to discuss the workforce of the future, highlighting how the focus on talent management has prompted the need for a cross-functional effort.
Members of the Audit Committee Leadership Networks (ACLN) discussed different ways to better manage the committee's time to more effectively address all issues, including: 1) Using executive sessions to streamline discussions, 2) Balancing workloads among committee members, 3) Regular reporting to the board.
Corporate culture can drive positive change and also affect the reliability of financial statements, the effectiveness of internal controls, risk profile and risk management efforts. This article discusses how corporate culture is defined, the role that boards and management play in shaping it and how some boards assess it.