Articles & Op-eds
8 PublicationsNew
The Next Frontier: Structured Products with Tokenized Assets as Underlying
Structured products have always been defined by their underlying — equities, indices, rates, FX. Tokenization adds a new category to that menu: tokenized treasuries, equities, private credit and real estate. The article argues the real case for these products is diversification rather than digital-asset exposure for its own sake, that the first visible change will be in how banks present client portfolios, and illustrates the point through tokenized mining royalties and streaming rights — including the Swiss Royalty Token (SRT) framework.
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Switzerland's Quiet Edge in Tokenisation and How to Export It: A capital-light opportunity in Latin America
Since the DLT Act came into force in 2021, Switzerland has assembled arguably the world's most complete legal and operational stack for tokenised securities — from Article 973d of the Code of Obligations to SDX's formal integration into SIX post-trade infrastructure in October 2025. The article argues that Switzerland's lead is real, tradeable, and exportable to Latin America through two tracks: immediate issuance through Swiss infrastructure today, and long-term regulatory build-out across the region.
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Economic Freedom & Digital Currencies
Challenges and opportunities for Chile and Latin America in the age of CBDCs. Examines the regulatory insertion of the Digital Euro, the ECB's programmable money powers, Switzerland's constitutional cash guarantee of March 2026, and what Europe's trajectory means for Chile's positioning as a destination for capital and talent.
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A Proposal for a New Architecture of Chile's Financial Supervisory System
Written ahead of Chile's CMF reform, this article proposed a two-tier macro/micro supervisory framework modelled on Europe's ESFS — explicitly including the Central Bank and Superintendencia de Pensiones. Chile subsequently moved in this direction with the creation of the CMF in 2019. Translated by the author.
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The Pertinent Remedy
Can political party agreements concluded outside institutional channels infringe constitutional guarantees? Can Executive or Legislative inaction violate citizens' rights? This article argues that — if the answer is yes — the writ of protection with an order of non-innovation is the pertinent legal remedy, and its acceptance would represent a genuine act of checks and balances among Chile's three branches of government. Translated by the author.
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The Stripping of Sovereignty
The so-called constituent process and the slogan of citizen participation concealed serious violations of democratic sovereignty under Articles 4 and 5 of Chile's Constitution. This article examines how the Executive's appointment of monitors and parallel bodies usurped the legislative mandate, and contrasts centralised and diffuse models of constitutional review — drawing on Austria, Germany, France, the US, and Switzerland. Translated by the author.
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Chile's Risky Absence
Chile's resilience during the 2007–2009 financial crisis is not a reliable predictor of future performance. This article argues that Chile's total absence from the global regulatory reform debate — Basel III, the EU supervisory architecture, bank recovery and resolution frameworks — exposes it to future crises and a difficult recovery, given the gulf between its international market participation and its regional financial regulation. Translated by the author.
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Deutsche Bank: Too Big to Fail?
Written in October 2016, this analysis examines Deutsche Bank's $14bn DOJ exposure, its $7.4bn losses in 2015, its trading at 30% of net asset value, and its structural reliance on the ECB's Asset Purchase Programme — raising the live question of whether the bank could not pay, or would not. Translated by the author.
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Academic Work
3 Articles in PreparationIn Preparation
Three academic articles are currently under preparation and will be published here upon completion. Topics span Swiss and comparative financial regulation.
Press & Interviews
1 FeaturePublic Appearances
1 AppearanceMedia enquiries & speaking invitations
Interested in featuring Dr. Pollak's expertise on Swiss-Chilean knowledge transfer, digital assets, or financial regulation? Get in touch.