Suchergebnisse für «1:12-Initiative»

Neuausrichtung des «Swiss Code of Best Practice for Corporate Governance» auf den Wandel der Zeit

The «Swiss Code of Best Practice for Corporate Governance», which was first published in 2002 and has since been revised several times, has become the most important guideline for good corporate governance in Switzerland and is widely accepted because it shows practical solutions based on expertise and experience. It compensates for its non-binding nature and lack of legal legitimacy, so to speak…

Les enjeux de la CSRD pour les entreprises suisses

The CSRD, which substantially expands the scope of companies forced to publish sustainability-related data, has a direct and indirect extraterritorial effect on Swiss companies. Size is not the only relevant criterion. Engaging with the EU market or with European companies can have (unexpected) implications. This worldwide impact is coupled with comprehensive and granular disclosures covering a…

L’application du droit des marchés publics à l’approvisionnement en électricité

In March 2021, the Competition Commission issued a recommendation pertaining to the application of public procurement law and the Federal Internal Market Act to the procurement of electricity. The purpose of this recommendation was to examine in which cases the purchase of electricity must be subject to public tenders; it clarified that public procurement law may apply in several instances to…

Sustainable Purpose-Driven Enterprises

Social enterprises (in a broad sense), including those launched by social (or sustainable) entrepreneurs (or Sustainable Purpose-Driven Entities) are important players to achieve the Sustainable Development Goals (SDGs). Developing a legal framework that allows them to prosper has been a priority of the European Commission since 2010. These entities have recently been endorsed by the United…

The Normative Effects of ESG Expectations on Companies and their Directors

Most companies face a growing number of environmental, social and governance (ESG) expectations arising not only from their shareholders, but also from a wide array of stakeholders such as clients, investors, States, financial institutions and not-for-profit organisations. Even though a significant number of these expectations are not imposed by hard or soft law, they cannot be disregarded in…

Die Praxis des Jahres 2022 im Übernahmerecht

Dieser Beitrag bespricht die Praxis der Übernahmekommission (UEK) des Jahres 2022. Die UEK erliess dabei im Rahmen von 16 Verfahren¹ insgesamt 21 Verfügungen.

Venture Capital, ESG and Sustainable Investments

Sustainability is a pressing issue that requires addressing various environmental, social, and governance (ESG) challenges. The venture capital industry has the potential to play a crucial role in sustainable investments due to its characteristics, such as long-term investment horizons and investor protections. However, sustainability has yet to become a major topic in private equity and venture…

Actions de loyauté : une fausse bonne idée

Over its summer session 2018, the Swiss National Council adopted the possibility for companies limited by shares (sociétés anonymes/Aktiengesellschaften) to include in their articles of association certain financial privileges to the benefit of shareholders registered for at least two consecutive years in the share register (loyalty shares). This article presents the legislative work in progress…

ESG Considerations and Public Benefit Corporations

There appears to be an international demand among investors for for-profit enterprises that commit to a social or environmental purpose and consider environmental, social and governance (ESG) aspects. Inspired by U.S. legislation, EU and other state legislators have enacted statutes with new legal forms of business organizations – so-called benefit corporations – or are considering to do so in…

Identification des actionnaires, restrictions de transfert et « white listings »

Identification of shareholders is a topic that is governed by various layers of rules under Swiss law, which were adopted at different times to serve different purposes. Most of these rules were adopted at a time when the structure of capital markets was very different from what it is today, and before the digitalization of securities became a topic. Also, growing focus on the fight against money…