Swiss banks need to focus on a new class of tax dodgers - those from emerging markets - or...

|By:, SA News Editor

Swiss banks need to focus on a new class of tax dodgers - those from emerging markets - or endure a "slow death" thanks to U.S. and European authorities pursuit of such, suggests fund manager Francois Reyl. Switzerland's bank secrecy laws date to 1934, but the 2009 U.S. lawsuit forcing UBS to disclose client information was a game-changer.