SBA: Cloud-Guidelines - Legal Opinion on Bank Client Confidentiality

26 March 2019 – The Swiss Bankers Association (SBA) today presented its Cloud Guidelines – Guide to Secure Cloud Banking. The SBA has carried out an assessment of the legal issues arising in this context and has considered the results in the Guidelines. In order to have these results reviewed independently, the SBA has asked Walder Wyss Ltd and another firm to prepare a legal opinion on bank client confidentiality. Like the SBA, we have reached the conclusion that banks are free to use cloud services, including clouds from providers abroad. Walder Wyss Ltd's opinion was prepared by Dr. Michael Isler, Oliver M. Kunz, Dr. Thomas Müller, Dr. Jürg Schneider and Dr. David Vasella. It is available at the following links: in English, in German (and in French, will follow).