The consequences for honest traders

The frauds of 2020 penalised traders who had no part in them. The contraction of credit, the tightening of conditions and the withdrawal of banks hit the whole sector, and in particular the mid-sized traders, whose credit lines were reduced or withdrawn although no breach was alleged against them. Some had to scale back their business, turn to more expensive financiers or merge with others.

This contagion illustrates the collective nature of a sector’s reputation, which Chapter IV of Part G described in relation to the cluster. Honest traders have an interest in the sector being cleaned up, in fraudsters being excluded and in transparency standards advancing, because the confidence of the banks is their shared resource. The good-conduct initiatives promoted by the professional associations, including Suissenégoce, respond to this interest.

For Geneva, what is at stake is the preservation of a diversified financing ecosystem in which traders of all sizes can find partners. Were the concentration of financing on the large houses to persist, it would reduce the diversity of the centre and its capacity to bring forth new players.

For general information only. This article does not constitute legal or tax advice, does not replace advice on an individual case and creates no lawyer-client relationship. It reflects the legal position as of September 2025.

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Dr Alexander Ressos, TEP

Rechtsanwalt/Attorney-at-Law

I am a Swiss attorney-at-law and also admitted as a solicitor in Hong Kong and in England & Wales, with almost 25 years of experience.

Together with my multilingual team, including Chinese, Japanese, Korean, Russian, Ukrainian and French native speakers, I advise companies and their owners from around the world on the full range of banking, corporate, commercial and tax law matters in Switzerland, including international tax planning, fiduciary services, and legal family office services including immigration & relocation or real estate investments. My practice has a particular focus on clients from growth and frontier markets in Greater China, Central Asia and the Caucasus, the rest of Asia, the Middle East, Africa and Latin America, and I equally advise clients from Europe and North America. Through an affiliated Swiss trust company, we also take care of the incorporation and ongoing administration of their companies and other structures, including accounting, tax returns and corporate secretarial services, and I serve as a professional director where required. With the support of a network of first-class cooperation partners, I also implement solutions worldwide.

My approach is to act as a trusted advisor who works directly with decision-makers, on an equal footing: I start from what you want to achieve and shape every structure, contract and tax decision around your commercial goals and how it improves your after-tax return. As “lawyers who make it happen”, my team and I stay involved until your company is set up, your structure is in place and your transaction has closed, and we remain available for any follow-on work that may be required. You benefit from bespoke solutions and personal attention, and sound, friendly and practical advice. We are not the lowest-cost provider in the market, nor do we intend to be; our aim is to deliver well-founded, proper solutions and excellent value for money.

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