Posted on 20 January 2011
Tags: account, account holder, accounts, America, amoun, Auditing, auditor, bank, bank account, Bank Accounts, Bank secrecy, banker, bankers, banking, Banking in Switzerland, banking laws, bankrupt, bankruptcies, Banks, banks in switzerland, Business_Finance, capacity, citizen, conditions, country, court, credit, criminal proceedings, Deposit account, different methods, Economy of Switzerland, employee, Ethics, EUR, European Union, Federal law, Federal Reserve System, government, Inheritance tax, interest, investmen, Law of the United States, laws, laws and regulations, legal formalities, Offshore bank, private citizen, regulations, savings, savings banks, securities, Swiss, swiss bank, swiss bank account, swiss bank account exemptions, swiss bank account laws, swiss bank account regulations, Swiss Bank Accounts, swiss banker, swiss bankers association, Swiss banks, swiss federal banking commission, swiss government, Switzerland, taxation, Terms And Conditions, UBS, united states, USA, With-holding
Opening an account in Swiss banks is accompanied with some rules, laws, and regulations. The basic rule is about the age of account opener, that if the account opener is a national of any other country, other than Switzerland, that account opener should be above 18 years old. The exemption and taxation on your amount is also done under certain rules.
Laws and Regulations of Swiss Banks
In Switzerland, nobody, even the Swiss government is allowed to reveal any information regarding accounts or account holders until an account holder is not a criminal.
But in USA even a private citizen has an easy access to it, i.e. in America any one; even a normal citizen can get information of any account holder. The Swiss banker’s requirement of client confidentiality is found in Article 47 of the Federal Law on Banks and Savings Banks, which came into effect on November 8, 1934. In the books of banking laws, this article act is defined as;
“Anyone acting in his/her capacity as member of a banking body, as a bank employee, agent, liquidator or auditor, as an observer of the Swiss Federal Banking Commission (SFBC), or as a member of a body or an employee belonging to an accredited auditing institution, is not permitted to divulge information entrusted to him/her or of which he/she has been apprised because of his/her position.”
Exceptions of Swiss bank accounts
It is discussed in Swiss Bankers Association that no bank is allowed to provide the information and details of any account to any one.
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Posted on 02 January 2011
Tags: 6 million, balance, Business, costly venture, David Shorr, diverse in your investments, diversification, Diversified, diversified portfolio, diversified portfolios, Diversify, Exchange-traded fund, extraordinary stock, financial markets, Focused Investing, individual stocks, instance, investment, investment money, investor, investors, last straw, Lehman Brothers, losses, majority, Money, portfolio descends, risk, SEC, securities, small market investors, stock, unpredictability
The reason stated for David Shorr (a former Lehman Brothers employee) to have lost $6 million overnight was that he did not diversify.
Why Should We Diversify?
The main intent of diversification is dispersing the investment money so as to minimize the risk of losing the entire investment.
Why People Avoid Diversification
The basic reason why majority of investors do not invest in a variegated portfolio is because it would take the focus of their investment off the individual extraordinary stock that may score the most at the market. Thus by dividing their investment they would limit their soaring potential. However there are high risks involved in focused investment. Picking out the extraordinary stock in itself is a challenging task even for the most competent pro investors.
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Posted on 06 July 2009
Tags: 10-year Treasuries, basis points, fed buys back, Federal Reserve, fixed income assets, fixed income products, government securities, securities, Stock Markets, stocks fall, tips auction, treasuries rise, treasury inflation protected securities, us debt, yield gap
For a third day treasury two-year notes has shown a rise as the Federal Reserve bought $7 billion in government securities and decline equities stoked demand for the relative safety of fixed-income assets. 
The two-year note yield has been pushed by the advance to the lowest level in more than a month. Before this week’s auction of the securities there has been a decline in ten-year notes, and in more than two weeks the yield gap with two- year debt was at the steepest level. In June there has been a contraction in the U.S. service industries from retailers to homebuilders for the ninth straight month.
According to BGCantor Market Data, there has been a fall of five basis points in the two-year note yield, or 0.05 percentage points, to 0.94 percent at 12:50 p.m. in New York. The rate has touched 0.9252%, which has been the lowest level since June 4. The price of the 1.125% security due in June 2011 has increased 3/32, or 94 cents per $1,000 face amount, to 100 12/32. There has been an increase of two basis points in 10-year note yield to 3.52%.
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