From the magazine SZW-RSDA 6/2018 | S. 639-652 The following page is 639

Bankgeschäfte nach der Krise: Safer, simpler, fairer?

Ten years after the global financial crisis, the Financial Stability Board reports that regulation has built a «safer, simpler and fairer financial system». While there are indeed notable improvements in the regulatory architecture, the question remains whether banking, as seen from a retail customer perspective, has become safer, simpler, and fairer. This article argues that, overall, retail customers do operate in a safer banking environment than they did before the crisis. Banking has also become simpler due to technological advancements. This leaves us with the question whether retail banking has become fairer. For the answer one invariably turns to the «new law in town», the Swiss Financial Services Act (FIDLEG). The Act makes the fair treatment of customers a supervisory concern, taking it out of the purely contractual private law realm. Undoubtedly, FIDLEG leaves ample room for improvements. But before one argues how full or how empty the glass is, one should remember that,…