Suchergebnisse für Datenschutz

Neuerungen und offene Fragen der revidierten Geldwäschereivorschriften im Bereich des Nachmeldeverhaltens von Finanzintermediären

The current revision of the anti-money laundering provisions introduces changes in the area referred to as subsequent reporting that have not undergone much examination thus far. However, these changes also have significant implications for financial intermediaries: With the removal of the time limit for analysis, the maximum time limit for executing client orders following a suspicious activity…

Digitale Generalversammlungen und Verwaltungsratssitzungen

The 19 June 2020 revision of the provisions on the limited by shares company contains various facilitations for the use of technical means in the conduct of general meetings and board meetings. What are the concrete options available and what are the practical implications of these innovations? What do banks need to consider from a prudential perspective? After an overview of the digitization in…

Relative Marktmacht, Geoblocking und Digitalisierung

The rules on relative market power, recently introduced into Swiss competition law, generate far-reaching overlaps with the geo-blocking prohibition that took effect in parallel, as part of Swiss unfair competition law. This contribution analyses these overlaps, with a focus on the “shop like a local” principle which is also known from EU geo-blocking rules. Furthermore, the provision…

Auskunfts- und Einsichtsrecht des Aktionärs – Durchzogene Bilanz der Aktienrechtsrevision

The revision of the Swiss Code of Obligations (CO) concerning the joint stock corporation – which will come into force on 1 January 2023 – substantially alters the shareholders’ rights to ask for information about the affairs of the company and to inspect its ledgers and files. Compared to the present legal situation, which only entitles a shareholder to obtain information during the course of a…

Vergütung der Rechenschaft über Retrozessionen

Based on Art. 400 para. 1 of the Swiss Code of Obligations, financial service providers must inform their clients if they receive payments or other benefits from third parties in connection with their client-related services (so-called inducements, kickbacks, or retrocessions). This article analyzes to what extent and under which conditions financial service providers can charge additional fees…

Open Finance und Decentralized Finance – Entwicklungen in einem disruptiven Finanzmarktumfeld

The recent technological developments not only impact society in general but they also strongly influence financial markets, even in a disruptive way. Open finance and decentralized finance cause an opening of the financial ecosystem and challenge existing notions; for example, new concepts are needed for the regulation of data access/portability and of digital identity as well as for the…

Kooperationsformen zwischen Banken und Drittanbietern aus vertrags- und datenschutzrechtlicher Perspektive

Open Banking or Open Finance essentially means the exchange of financial data between different financial service providers including third party providers at the request of the customer. From a civil liability and data protection perspective this paper examines the legal relationships between banks, third party providers, platforms and customers on the basis of four possible «model forms of…

Do Robots Rule Wealth Management? A Brief Legal Analysis of Robo-Advisors

What are the legal duties of robo-advisors in Switzerland? In this article, we focus on the legal framework arising from Swiss financial market law, contract law and data protection law. We also make a comparison with European law. We first explain how robo-advisors work and conclude that, contrary to what their name may suggest, they are primarily portfolio managers. As financial service providers…

KI Sandboxen für die Schweiz?

A sandbox allows companies to test innovative products, services, and business models in a live market environment. Stemming originally from the FinTech sector, sandboxes have recently gained importance, especially in the context of artificial intelligence, where they are intended to serve to resolve the conflict between data protection and innovation by allowing innovation while ensuring that…