Strafrecht

Editorial

Late in the spring (sometimes very late), the second issue of this journal brings its readers a bouquet of highlights on the laws and regulation of banking and finance. This issue reflects some trends that can be observed in most mature financial markets (increased role of criminal law, transition out of LIBOR) and some that are linked to recent changes of Swiss law (civil rules on limitation, new…

Le compliance officer face au risque pénal découlant du dispositif anti-blanchiment

In the financial sector, the function of compliance officer is closely linked to the fight against money laun­dering, which is one of the main risks for the Swiss financial centre. The profession has important responsibilities in this field and breaches of its obligations can lead to (administrative) criminal sanctions, in particular for money laundering or violation of the duty to report a…

Les effets des nouvelles règles sur la prescription en droit bancaire et financier

The partial reform of limitation rules in the Code of obligations, effective since 2020, has limited impact on the banking and financial sector. Yet specific matters call for renewed attention. We analyse the consequences of the new 3-year and 10-year limitation rule for claims based on torts and unjust enrichment, specifically in connection with defective transfers of funds, intermediated…

Retro-Strafbarkeit nach Art. 158 StGB: Questions and (some) Answers

In 2018, the Swiss Supreme Court issued a landmark decision on payments from third parties in financial services (so-called inducements, kickbacks, or retrocessions). In essence, it held that the acceptance of inducements by asset managers and their concealment vis-a-vis the clients are a criminal offense. This article discusses the ramifications of the Supreme Court decision and explores some of…

Das schweizerische Bankprivatrecht 2020 | Le droit bancaire privé suisse 2020

Das Jahr 2020 war in vielerlei Hinsicht aussergewöhnlich. Demgegenüber bewegen sich die Entscheide zum privaten Bankrecht, die in diesem Jahr gefällt wurden, zu einem Grossteil im Rahmen des Gewohnten. Die Leserinnen und Leser erwarten viele altbekannte Themen wie die SED-Gelder, die Garantiestrenge und die Retrozessionen. Allerdings wäre 2020 nicht 2020, wenn es nicht auch im privaten Bankrecht…

Fairnessregeln für Mitarbeiterbefragungen in internen Untersuchungen bei Banken

Internal investigations are the appropriate instrument for banks to clarify misconduct within the company. Like other companies, they are obliged to this «catharsis». The core element of internal investigations are the so-called «employee interviews». These interviews can represent a conflict situation for the company em­ployees. In principle, there is a duty to cooperate and to tell the truth…

Bestimmung von Vertragskonditionen im Rahmen automatisierter Entscheidungen

Automated decision making has become increasingly popular in the context of contracting. Essential contractual conditions, in particular the price, are automatically determined based on a number of factors, a wealth of data and by the use of algorithms. Automated decision making for contractual terms raises a number of legal issues and questions, in particularly related to data protection, fair…

Haftung für automatisierte Entscheidungen – Herausforderungen in der Praxis

It is now technically possible for decisions to be made by autonomous means without any human involvement. The ability of automated decision making systems to act increasingly autonomously poses new challenges to the current legal framework. For example, in addition to contractual and non-contractual liability bases, proposals are being made for liability under the Swiss Product Liability Act or…

Editorial

Banking and financial markets and services are the common topic of all but one of the papers published in this Spring issue of the Swiss Review of Business and Financial Market Law. Once again, we look at it from a diversity of angles: contracts, supervision and enforcement, employment law, personal data, criminal procedure, and taxation. There is poetry in this “inventaire à la Prévert”¹…

Mise sous scellés et infractions financières: développements récents

The sealing of evidence is a procedural tool of great relevance, notably in the context of economic offences. The case law on this measure is important and sometimes uncertain. This is especially true in administrative criminal law: the practical importance of this area of law has been steadily increasing these past years while its procedural provisions appear to be outdated. This paper deals…