Suchergebnisse für Rechenschaftsablegung

Vergütung der Rechenschaft über Retrozessionen

Based on Art. 400 para. 1 of the Swiss Code of Obligations, financial service providers must inform their clients if they receive payments or other benefits from third parties in connection with their client-related services (so-called inducements, kickbacks, or retrocessions). This article analyzes to what extent and under which conditions financial service providers can charge additional fees…

Retro-Strafbarkeit nach Art. 158 StGB: Questions and (some) Answers

In 2018, the Swiss Supreme Court issued a landmark decision on payments from third parties in financial services (so-called inducements, kickbacks, or retrocessions). In essence, it held that the acceptance of inducements by asset managers and their concealment vis-a-vis the clients are a criminal offense. This article discusses the ramifications of the Supreme Court decision and explores some of…

Dokumentenherausgabe nach FIDLEG vs. datenschutzrechtliche Auskunftserteilung

The claim for disclosure according to FinSA is supposed to enable the customer to obtain evidence to effectively enforce his or her rights from the contractual relationship with the financial service provider. The right to request information according to FADP is meant to enable the data subject to control his or her personal data and thus to protect and enforce his or her personal rights…

Die (neuen) Pflichten im Execution-only-Geschäft: Zusammenspiel von FIDLEG und OR

As a part of the new financial markets architecture, the Financial Services Act (FinSA) entered into force on 1 January 2020. It introduces unified rules for offering financial services and…

Bankgeschäfte nach der Krise: Safer, simpler, fairer?

Ten years after the global financial crisis, the Financial Stability Board reports that regulation has built a «safer, simpler and fairer financial system». While there are indeed notable improvements in the regulatory architecture, the question remains whether banking, as seen from a retail customer perspective, has become safer, simpler, and fairer. This article argues that, overall, retail…

Vorbereitung und Durchsetzung von Aktionärsklagen: Wie kann die Informationsasymmetrie überwunden werden?

In order to improve the enforcement of directors’ liability in solvent companies, it is necessary to improve the access of shareholders to information in order to prepare a derivative suit. The Swiss company law revision project of 2016 provides such improvements by lowering the conditions under which a special audit can be appointed by the court (art. 697a seq. CO). However, the applicants…

Rechenschaft und Transparenz als zentraler Teil der Governance oder als Selbstzweck?

The title of the essay is: “Accountability and Transparency as a function of governance or a function which ends in themselves?” Without transparency good corporate governance is not possible, since only informed decisions are dutiful decisions. Both, the general assembly of shareholders and the board must make decisions which are only possible if transparency is given. For example, for most…