MyPrivateBanking Blog
Daily Comments on the World of Wealth Management

Archive for August, 2011

Swiss Court Requires Credit Suisse to Tell Client All About Kick-Backs

Tuesday, August 16th, 2011

The Swiss newspaper NZZ reports today (print only) that the Handelsgericht of the Kanton Zurich (business court) decided that a client has the right to be informed about all kick-backs, retrocessions or distribution fees the bank received from a third party for products sold to the client. The client had sued Swiss private bank Credit Suisse. The bank had sold to him equity notes of J.P. Morgan and did not disclose kick-backs received.


Who Makes Money Off All This Panic?

Wednesday, August 3rd, 2011

Nouriel Roubini aka Dr. Doom threw an epic bash at his new east village penthouse. You can find the plans of the modestUSD 5 m apartment on James Altucher’s blog (scroll all the way down). It seems that bleak forecasts pay well these days…