From Reuters to Forbes to NZZ: a curated collection of the most important media coverage on retrocessions, kickbacks, and hidden commissions in Swiss finance.
The topic of retrocessions and kickbacks in the Swiss financial sector has attracted significant media attention in recent years — from the NZZ to Reuters and Forbes to specialist publications like the STEP Journal and Finews. We have compiled the most important reports.
The NZZ reports that despite clear Supreme Court rulings, billions in retrocessions have never been returned to entitled investors. Banks rely on the fact that most clients do not assert their claims. → Read article at NZZ
Hidden commissions create systematic conflicts of interest between investors and asset managers. → Download analysis as PDF
A concrete case demonstrating how retrocessions lead to conflicts in practice. → Read article at NZZ
Inside Paradeplatz reports on the systematic practice of kickback payments at the Swiss financial centre. → Download article as PDF
Finews compares the actual costs of private banking, robo-advisors, and traditional asset management. → Read article at Finews
The study shows how banks favour proprietary products to maximise retrocessions. → Read article at Finews
The Coutts case illustrates that retrocessions can also have criminal consequences. → Read article at Finews
Even institutional investors like pension funds are affected by the retrocession problem. → Read article at Tagesanzeiger
Reuters reports on the landmark Supreme Court ruling on retrocessions. → Read article at Reuters
JP Morgan had to pay USD 267 million because clients were not informed about conflicts of interest and kickback payments. → Read article at Forbes
The official SEC announcement on the JP Morgan settlement over undisclosed retrocessions. → Read SEC Press Release
Kickback payments played a central role in spreading the Madoff Ponzi scheme. → Read article at Business Insider
A lawyer takes legal action against hidden fund commission payments — German investors are also affected. → Read article at SZ
Martin Straub quantifies the "Retro Drag" — the cumulative performance impact of retrocessions over 20 years. → Download article as PDF
The new financial market legislation creates regulatory obligations and increases pressure on trustees to actively claim back retrocessions. → Download article as PDF
The renowned Swiss business law firm analyses the criminal law consequences of non-disclosure of retrocessions. → Read briefing at Baer & Karrer
The International Bar Association reports on the criminal law dimension of retrocessions in Switzerland. → Read article at IBA
Geneva law firm LALIVE provides an update on retrocession case law. → Read update at LALIVE
KPMG analyses the implications of the Financial Services Act on third-party compensation. → Read article at KPMG
The Banking Ombudsman confirms the ten-year limitation period for retrocession claims. → Read statement
An international perspective on trailer fees and kickbacks. → Read analysis at 3C Advisory
A foundational explanation of hidden investment costs, including retrocessions. → Read article at Investopedia
French-language analysis of the restitution obligation (Centre de droit bancaire et financier). → Read analysis at CDBF
International investors can also recover retrocessions from Swiss banks. → Read article at UAE Jurist
| Document | Topic |
|---|---|
| NZZ Article: Retrocessions and Trust | Conflicts of interest through hidden commissions |
| Ban Kickbacks — Conflicts of Interest | Retrocessions and conflicts of interest in the funds industry |
| Inside Paradeplatz: Kickbacks | Kickback practices at the Swiss financial centre |
| STEP Journal: Retrocessions in Swiss Asset Management | Quantification of Retro Drag |
| STEP Journal: Game Changer for Swiss Trustees | FinIA/FinSA and trustee regulation |
Receive selected analysis on Swiss litigation finance and regulatory developments.
Processed in accordance with our Privacy Policy. You may unsubscribe at any time.
Further reading you may find relevant.
The Financial Institutions Act and Financial Services Act fundamentally change the regulatory landscape for trustees in Switzerland — with direct implications for retrocession obligations.
Inflation-linked bonds promise to preserve purchasing power. Yet between the instrument's real yield and the return that reaches the investor lies a cost layer that is rarely disclosed in full.
Retrocessions on fund products create systemic conflicts of interest. An analysis shows how the practice works and why a ban is being debated.
Regulatory notice
This material is for information purposes only and does not constitute investment advice, an offer, or solicitation. It is directed exclusively at qualified investors and is not intended for US persons.
