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In Land of Discretion, No Jail for Swiss Insider Trading
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Updated on
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Since feds seized oversight in 2013, no cheaters behind bars
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Ten convictions and a fine little more than a yearly rail pass
People walk in front of the headquarters of the Swiss Stock Exchange.
Photographer: Fabrice Coffrini/AFP via Getty Images
A dispute inside the policing arm of the Swiss Stock Exchange has put an awkward spotlight on how suspected insider-trading cases are handled in Switzerland.
The rift emerged between the head of regulation at the Zurich exchange and two deputies who have since left, including one who now says a lack of resources means “many insiders trade with impunity.” His former boss sued him for defamation, noting that the bourse complies with its legal obligations to report all suspected cases to prosecutors.
