Sat, Jul. 07, 2007

Extraterritorial Banking

CK - Washington.   Frequently, Europeans claim excessive extraterritorial effects of American laws but they are guilty of the same approach to regulatory oversight. A July 5, 2007 ruling of the Frankfurt administrative court in the matter 1 E 4366/06 subjects Swiss bankers to German rules, and other European nations may follow. Netzeitung reports, in German, that the Swiss offered financing through the Internet and did business with German customers, and German regulators BaFin, Bundesanstalt für Finanzdienstleistungsaufsicht, in Frankfurt am Main, backed by the European court of justice had the court quash efforts by Swiss Fidium to remain free of German oversight.


      CURRENT :: 2003 :: 2004 :: 2005 :: 2006 :: 2007 :: 2008 :: 2009 :: 2010 :: 2011 :: 2012 :: 2013 :: 2014 :: 2015 :: 2016 :: 2017