Swiss and British bankers want principles-based code

High-profile members of two of the world’s most important banking communities have come out in favour of principles- rather than rules-based regulation.

Banking chiefs from the city of London and Switzerland reached their conclusion at a meeting in Zurich yesterday.

Those in attendance included:
• Philipp Hildebrand, vice-chairman of the Swiss National Bank;
• Daniel Zuberbühler, director of the Swiss Federal Banking Commission;
• Angela Knight, CEO of the British Bankers Association;
• Pierre Mirabaud, chairman of the Swiss Bankers Association;
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