Switzerland, EU Restart Financial Market Talks after Long Hiatus

REUTERS/Aly Song/File Photo
The logo of Swiss bank UBS is seen at the bank’s branch in Shanghai, China, March 20, 2023.

ZURICH, July 4 (Reuters) – Switzerland and the European Union resumed talks on financial market regulation on Thursday after dialogue was suspended in 2017, the Swiss government said.

Issues relating to financial market stability, cross-border activities, capital markets, digital finance, cybersecurity, sustainable finance and insurance were discussed during a meeting in Bern, the government said in a statement.

The resumption of talks comes amid broader negotiations between Brussels and Switzerland aimed at updating economic relations, which the Swiss hope will be concluded this year.

The EU delegation was led by John Berrigan, who heads the European Commission’s financial services unit.

He met Swiss officials from the finance and foreign ministries, the Swiss National Bank and market regulator FINMA.

The Swiss team was led by Finance Ministry State Secretary Daniela Stoffel.