Switzerland Grudgingly Abolishes Bearer Shares as per OECD

The Swiss government has formally agreed to implement the OECD Global Tax Transparency Forum's demand for the elimination of bearer shares, despite nationwide outcry from the country's financial experts and traders.

The Federal Council has stated that failure to comply would leave Switzerland with an insufficient rating in the next Global Forum peer review, with the risk of being blacklisted as a non-cooperative jurisdiction entirely.