Switzerland Says Commodity Traders Should Police Themselves

Switzerland rejected calls for tougher regulation of commodity traders, including Vitol SA, Glencore International Plc and Trafigura Beheer BV, in favor of a voluntary industry code.

“Switzerland generally prefers voluntary standards, which are supported and upheld by businesses, to laws,” Economy Minister Johann Schneider-Ammann told reporters today in the Swiss capital, Bern. “It’s important that we make sure the framework in Switzerland isn’t less attractive than elsewhere.”