Sarasin Will Stop Investing in U.S. Stocks, Le Temps Reports

Dec. 3 (Bloomberg) -- Bank Sarasin & Cie AG will stop investing in U.S. equities, Le Temps reported, citing a letter sent by the company to clients.

The bank also advised clients to do likewise, given the “concentration of regulations in the United States and the toughening of American tax legislation,” the Geneva-based newspaper reported. Customers are free to continue investing in U.S. stocks, the bank said, according to the daily.

To contact the reporter on this story: Warren Giles in Geneva at wgiles@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net