From the magazine SZW-RSDA 2/2019 | S. 97-98 The following page is 97


Banking and financial markets and services are the common topic of this issue of the Swiss Review of ­Business and Financial Market Law. What once was a fairly specialized but consistent area of the law has become a continuously expanding and fragmented field for legal research and practice, with an increas­ing number of sub-specialties. While acknowledging this fragmentation, we have designed this issue as crossing specialties and offering insights in some of the hottest issues, including three that were presented and discussed at the 2018 Journée de droit ban­caire et financier in Geneva.

Urs Zulauf and Roy Gava present the very first ­results of a multi-jurisdictional empirical research on the enforcement of financial regulation. This first ­report focuses on FINMA’s enforcement rulings and their review by the Federal Administrative Court and the Federal Supreme Court. This is the first quantitative account of the (generally low) “success rate” of appeals, differentiating according…