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Ex-UBS Banker Likely to Head Swiss Super-Regulator

Contributing Editor

19 April 2006

Eugen Haltiner, a former senior UBS banker, is likely to be announced as the first chairman of FINMA, the future super regulatory body to be set up in 2008 in Switzerland. Mr Haltiner, in an interview with the Financial Times, said FINMA was not just set up to copy the Financial Services Authority in the UK, but be a unique organisation structured towards the need of the Swiss financial services sector. The report said that Mr Haltiner is likely to chair FINMA’s board which will comprise at least another eight members. Although final details of the structure of the new regulatory body will not be known until a new law is passed by the Swiss parliament. Mr Haltiner was last month appointed to the chairmanship of the Federal Banking Commission, which will be part of FINMA, along with the insurance regulator and the money-laundering office.