Suchergebnisse für Aktienrecht

Verfügt die FINMA über genügend wirksame und scharfe Instrumente gegen (höchste) Bankmanager?

In March 2023, Crédit Suisse (CS) had to be taken over by UBS. It was the first global systemically important bank to face imminent resolution since the financial crisis of 2007–2008. Unlike UBS in 2008, CS remained well capitalized until the end. But clients had lost confidence in the bank’s management. This led to a bank run and thus to the bank’s demise. The ongoing crisis of specialist and…

Kantonalbanken im Spannungsfeld von Political Governance und Corporate Governance

Like the other banks, the cantonal banks are facing the challenges of increasing regulation, digitalisation and the persistently low interest rate environment, and are exposed to the accompanying competitive and margin pressure. They have to virtually reinvent their business models and themselves in order to secure their positions as future-oriented financial service providers in their regions…

Konzernverantwortungsinitiative: Was ändert sich bei einem JA?

The highly debated Swiss Responsible Business Initiative will be put to public vote in November 2020. If the electorate supports the position of the Initiative, a provision titled «Responsibility of Businesses» will be introduced into the Swiss Constitution. According to this provision companies seated in Switzerland would be required to respect internationally recognized human rights and…

Generalversammlungen von AG: «Landsgemeinden» oder «Chatrooms»?

Digitalization will cause a fundamental change regarding general meetings of Swiss stock corporations. Currently, Swiss corporate law provides that shareholders must be physically present, or validly represented at a general meeting and may not participate in writing or by electronic means; the «COVID-19 regime», however, allows e.g. «cyber general meetings». The new Swiss law on corporations,…

Konzernverantwortungsinitiative: Grenzenlose Verantwortlichkeit?

This article discusses a recently launched popular initiative, that aims at ensuring that companies domiciled in Switzerland respect human rights and environmental standards in their activities worldwide. To achieve this objective binding due diligence obligations for companies shall be anchored in the Swiss constitution. An in-depth analysis of the proposed provision and the explanations thereto…

Verfassungsrechtliche Erwägungen zu Informationsverboten der Finanz­marktaufsicht

Im Zusammenhang mit dem grenzüberschreitenden US-Kundengeschäft der Bank Frey & Co. AG (Bank Frey)¹ erliess die FINMA am 30. August 2013 eine ­Verfügung, die unter anderem die folgenden Ziffern…

Gleichstellung – Ein aktienrechtliches Thema

Article 734e of the Preliminary Draft demands that each gender is represented with at least 30% of the members of the board of directors and the executive committee of large listed companies. Companies that do not comply with this obligation must describe the reasons for such failure and the measures they will take to advance the underrepresented gender in their compensation reports. Although the…

« Comply or explain » : la solution au dilemme des quotas ?

Swiss listed companies are familiar with the “comply or explain” principle imposed by the SIX corporate governance directive, and more recently by economiesuisse’s (private) governance code. In November 2014, the Federal Council proposed to amend the Code of obligations (“CO”) to introduce such a principle in relation with a 30% “women” quota, which would apply to boards of large listed companies…