Suchergebnisse für Geschäftsführung

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…

Missmanagement im Bankensektor und die FINMA-Gewährsprüfung

This article addresses the following questions: Can the fitness and propriety audit of bank managers deliver what it promises? How could the fitness and propriety audit be improved within the framework of the existing legal basis or, if necessary, by means of new or adapted regulations? The tension between FINMA’s supervisory procedure on the one hand and criminal proceedings on the other hand…

Das Desorganisationsdelikt in Finanzdienstleistungsunternehmen

In 2003, a general criminal provision on corporate liability came into force in Switzerland. This regulates how to attribute certain felonies or misdemeanours committed by individuals to the company for which they work. This innovation was in line with a general trend in continental Europe, but was controversial in business circles and in criminal law doctrine. The legislative bodies therefore…

Klimawandel

Climate litigation against companies has increased significantly in the past couple of years, not only in the United States, but also in Europe. At the same time, regulation with respect to climate change is developing rapidly, such that it may be difficult for companies to identify which laws apply to them and how they should address the legal risks relating to climate change and climate…

Salärgovernance und neues Aktienrecht

In determining the compensation of directors and top management, the board of directors of public companies is faced with a structural conflict of interest. The aim to mitigate this conflict through an appropriate design of the procedure forms the essence of the say-on-pay rules introduced by the Swiss electorate in a public vote in 2013 and implemented on a transitional basis in the Ordinance…

Die Abschaffung der Sachübernahmevorschriften im neuen Aktienrecht

Under current Swiss corporate law the acquisition of assets from a shareholder intended prior the formation of the company is subject to the same rules as a payment of subscribed capital by contribution in kind. An (intended) acquisition of assets occurs when the company intends or undertakes to acquire certain assets of its shareholders or of a person closely related to a shareholder soon after…

Uneasy lies the head that wears a crown – Zur Rolle des Verwaltungsrates in schweizerischen Publikumsgesellschaften

The board of directors of a Swiss public company is stuck between a rock and a hard place. Shareholders breathe down directors’ necks with earnings expectations, but the results are delivered by an executive management under the board’s control rather than by the board itself. The executives who run the business on a day-to-day basis know the company better than the board. This allows them to…

Global agieren, lokal profitieren – und keine Verantwortung?

The debate about responsible business conduct has gained new momentum in Switzerland due to the responsible business initiative («Konzernverantwortungsinitiative») which triggered the drafting of a counter-­proposal by the National Council in the context of the ongoing revision of the company law. This contribution situates this debate in the relevant international con­text. The analysis’ focus…

Ausdehnung der Tragweite statutarischer Schiedsklauseln bei Kapitalgesellschaften

Der in Deutschland domizilierte A. (Kläger) gründete im Jahr 2004 mit dem heute in der Schweiz wohnhaften B. (Beklagter) und C. die D. GmbH mit Sitz in T., Schweiz. In Art. 26 der Statuten wurde eine…

Das Finanzmarktaufsichtsrecht vom vierten Quartal 2016 bis ins vierte Quartal 2017

Als Ausgangspunkt der Finanzkrise gilt gemeinhin der 9. August 2007, als die französische Bank BNP Paribas die Rücknahme von Anteilen an Investmentfonds aussetzte, die im US-Subprime Markt engagiert waren.¹ In der Folge profilierten sich die Notenbanken als unabdingbare Stützen des Finanzsystems.² Die Finanzkrise löste eine gigantische Regulierungswelle aus, die bis heute nicht gänzlich…