State Secretariat for International Financial Matters commences work

The newly-created State Secretariat in the FDF serves the purpose of reinforcing Switzerland's international position in financial and tax matters. SIF's main task will start with the implementation of the new financial market strategy. The Federal Council decided on this on 16 December 2009, and further substantiated it during its extraordinary meeting on 24 February 2010.

SIF reports directly to the Head of the FDF, and is responsible for the coordination and strategic management of international financial, monetary and tax matters and represents Switzerland's interests abroad in these areas. The State Secretariat's duties also include drafting basic principles on financial market policy and financial market regulation, as well as actively participating in international efforts to combat financial crime.

The Federal Council has appointed as Head of SIF Michael Ambühl, who was previously the State Secretary and Head of the Directorate of Political Affairs in the Federal Department for Foreign Affairs (FDFA). State Secretary Ambühl will represent Switzerland's interests abroad concerning financial, tax and monetary matters and will lead negotiations in this area.

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