The Council of States has backed a 90% capital-coverage rule for UBS's foreign subsidiaries — a compromise stopping short of the Federal Council's push for full coverage
The Senate rejected both the government's harder line and its own economics commission's softer version.
Finance Minister Karin Keller-Sutter, who has pushed the reform for months, is treating the outcome as a win.
The Lex UBS was born from the collapse of Credit Suisse and aims to prevent another taxpayer-funded bank rescue.
Phone company going to court
A Swisscom technician who spent 38 years at the company says he was fired for helping his 80-year-old neighbour cancel a subscription she never wanted
Swiss watch authenticity
Voices in the Swiss watch industry are calling for a new '100% Swiss made' label to distinguish fully home-produced timepieces from those partly manufactured in Asia
Valais school initiative
Valais is rolling out an interactive workshop for 2,600 secondary school pupils to help them spot hidden marketing on social media
Housing concerns still an issue
Switzerland's housing crisis will ease only marginally next year, according to a new study
Valais scam alert
Valais police say a fresh wave of phone scams has cost residents nearly CHF 150,000 in the past week alone
Geneva job losses concern
Job cuts at the UN's Geneva-based health and food agencies will weaken food safety worldwide according to report
