Suchergebnisse für source du secret

Réflexions critiques sur l’adoption par la Suisse des normes du GAFI en ­matière de transparence des sociétés : du bricolage législatif à l’abolition des actions au porteur ?

As a result of the revised FATF recommendations issued in 2012, Switzerland, under international pressure, had no choice but to enact requirements aiming at creating more transparency with regard to the ownership and control of limited by share companies. In this context, the widespread possibility for Swiss companies to issue bearer shares was particularly at stake. Switzerland inserted these…

La banque exposée aux prétentions de tiers : art. 402 CO et rétention ­d’actifs de clients

The so-called claw-back suits filed by the liquidators of Fairfield Sentry and other feeder funds involved in Bernard Madoff’s bankruptcy have prompted the defendant banks to secure their recourse against their clients by withholding money and other assets in their custody. This article analyses the legal basis for the retention of client assets under Swiss law. It concludes that, except when the…

Protection des données et nouvelles procédures de communication aux autorités fiscales et de surveillance étrangères

At a time when banking secrecy is shrinking, the lawmaker has decided to redefine the role of data protection in international cooperation procedures with regulatory and tax authorities. The law allows a supervised entity, typically a bank, to transmit confidential information to certain foreign authorities and organizations, but requires it to safeguard the rights of its clients and other third…

Swiss Bank Program: Non Prosecution Agreements Implementation & Beyond

The United States Department of Justice’s Swiss Bank Program undoubtedly accounts for one of the most ­ambitious global foreign enforcement of U.S. tax laws. The resulting Non-Prosecution Agreements – signed by a record of 80 banks – were reached after long, demanding internal investigations and cooperation efforts with U.S. authorities. But, these NPAs are not the end. To the contrary, they…

Swiss Multinational Enterprises and Transnational Corruption: Management Matters

In 2016, the Office of the Attorney General of Switzerland sanctioned a Swiss corporation for having bribed a Libyan Minister. The same year, it opened a criminal proceeding against the Swiss bank BSI for its involvement in the corruption scandals surrounding the Malaysian company 1MDB. Swiss corporations are also currently under investigation in the Brazilian Petrobras scandal. At the…

Recent developments in Swiss competition law

1. «Wettbewerbskomplexität»! After reading the 347-page long judgment handed down by the Federal Administrative Tribunal in the Swisscom ADSL price strategy case,¹ one can only agree with the expression used by the court in its decision.² Although an appeal before the Federal Tribunal is pending, we must emphasize the high quality of this judgment and, in particular, its clarity and educational…