Swiss wealth managers are fighting against government proposals they say will scare off millionaire clients by forcing them to make declarations on the tax status of assets held in private bank accounts. Switzerland plans to revise its so-called white-money strategy later this month after proposing in March that banks reject deposits from clients who don’t disclose the origin of their funds and attest they’re tax compliant. That policy should be dropped as it threatens jobs, said Yves Mirabaud, senior partner at Geneva-based wealth manager Mirabaud & Cie

Source - http://www.bloomberg.com