Suchergebnisse für contract law

Editorial

The war is still raging in Ukraine and no international consensus has yet been reached on the possible use of Russian assets in support of Ukraine. The merger of the two Swiss banking mammoths is…

Intelligence artificielle et automatisation des décisions dans le secteur bancaire et financier : application de la LPD et du RGPD

This article addresses the application of Automated Decision-Making (ADM) in banking and finance, under the revised Swiss Federal Act on Data Protection and the EU’s GDPR. It scrutinizes the legal framework of ADM, particularly considering the European Court of Justice’s interpretation in the SCHUFA Holding AG case, which broadens the scope of “decision” within the GDPR, encompassing actions like…

Schutz der Kundenvermögen durch Segregation

Swiss financial market law contains various provisions that serve to protect client assets by means of segregation. With regard to the custody of intermediated securities, a revision entered into force on 1 January 2023: Art. 11a of the Federal Act on Intermediated Securities (FISA) now stipulates an obligation for custodians to hold their own securities and those of their account holders in…

Crowdinvesting mittels Initial Coin Offering – Regulierungsaufgaben im -Token-Universum

Initial coin offerings (ICOs) are a phenomenon with similar characteristics as the cryptocurrency boom. Projects that typically have no history of producing a product or revenue raise capital by issuing their own tokens to investors. Therefore, the Federal Council adopted in December 2018 a report on the legal framework for blockchain and distributed ledger technology (DLT) in the financial…

Legitimationsprüfung und Risikotransfer bei E-Mail-Zahlungsaufträgen

Fraudulent falsifications of payment orders have been a long-known issue in banking. Pursuant to statutory law banks are obliged to verify the authenticity and integrity of payment orders and, thus, bear the financial risks of undetected falsifications. In practice however, this legal situation is commonly, and permissibly, modi­fied by specific contractual clauses which transfer the financial…

Innovation durch den OR 2020-Entwurf: Die Vorschriften über die Liquidation

The draft version of the new Swiss Law of Obligations (OR 2020) suggests introducing a novel regime for restitution (called “Liquidation”) into the general part of the OR. The new provisions would cover all cases where contractual performances have to be restored, ranging from the invalidity of a contract to its termination for breach. It specifies that if a party cannot return what it has…