Business - 04.07.2006

Swiss banks facinghuge kickback claims

Many Swiss banks and other asset management companies have unlawfully withheld commission fees in billions in the past. These commission fees are called retrocessions in Switzerland and were a well-established and lucrative business model for Swiss banks, asset management companies and financial service providers for many years. These funds belong to the clients, who are often unaware of their rights in this regard.

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