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Gotthard line in 1882 Development of real GDP per capita, 1851 to 2018. Switzerland as a federal state was established in 1848. Before that time, the city-cantons of Zürich, Geneva, and Basel in particular began to develop economically based on industry and trade, while the rural regions of Switzerland remained poor and underdeveloped.
[48] [50] As of 2019, Switzerland received financial data from 75 countries and shared data with 63 (over 100 countries starting in 2023) representing 3.6 million accounts as of 2023. Around 9000 banks, insurers, trusts and other financial institutions in Switzerland provide this information to the Swiss authorities. [51] [52] [53] [54]
The Swiss Financial Market Supervisory Authority (FINMA) [a] is the Swiss government body responsible for financial regulation. This includes the supervision of banks, insurance companies, stock exchanges and securities dealers, as well as other financial intermediaries in Switzerland . [ 2 ]
SIX Financial Information, a subsidiary of SIX Group, is a multinational financial data vendor headquartered in Zurich, Switzerland. [3] The company provides market data which it gathers from the world's major trading venues directly and in real-time or which it also sources on its own.
Switzerland has a large economy and highly skilled labor force. Fifteen Swiss companies are included on Fortune's "Global 500" list (in 2011).As of 2018 the largest non-financial companies in terms of annual revenue were Glencore, Vitol and Trafigura, with Nestlé as the largest employer.
The Swiss federal budget (German: schweizer Bundesbudget) refers to the annual revenue (money received) and expenditures (money spent) of the Swiss Confederation.As budget expenditures are issued on a yearly basis by the government, the federal council, and have to be approved by the parliament, [1] they reflect the country's fiscal policy.
Federal Finance Administration (FFA): Responsible for the budget, financial planning, financial policy, the federal treasury and financial equalisation between the Confederation and the cantons. It also supervises the federal mint and the Central Compensation Office (CCO) in Geneva (responsible for implementing the Swiss social security).
The Swiss secrecy law two years later assured him of G-man-proof-banking. [11] Later, he bought a Swiss bank and for years deposited his Havana casino take in Miami accounts, then wired the funds to Switzerland via a network of shell and holding companies and offshore accounts. [11] Economist and Nobel Prize laureate Joseph Stiglitz, told Komisar: