Swiss propose light-touch rules to lure fintech sector

Switzerland's cabinet proposed new light-touch regulations for financial technology (fintech) companies on Wednesday aimed at bolstering business and competitiveness. Easing rules could help reduce barriers to market entry and provide more legal certainty for the burgeoning sector, said the finance ministry, which must now turn the changes into draft legislation. Ministry officials said draft legislation could be sent to parliament by mid-2017 after a public consultation.