Suchergebnisse für Revisionspflicht

Informationskonzept im neuen Aktienrecht

The information asymmetry between shareholders and managers calls for the implementation of an efficient information concept within stock corporations. In the course of the Swiss Stock Corporation Reform of 2020, the former information concept was partially revised. This article takes a critical look at the revised provisions and puts them in context.

Eigentümerstrukturen von Schweizer Aktiengesellschaften

The ownership structure of a corporation is in many respects a crucial determinant from a corporate governance perspective. In finance and business economics, a large variety of theoretical and empirical work has focused on corporate ownership structures and their implications. In the legal field, however, the topic has been rather neglected so far. This article provides an empirical study of…

Das Finanzmarktaufsichtsrecht vom vierten Quartal 2020 bis ins vierte Quartal 2021

Nachhaltige Finanzanlagen erfreuen sich stark steigender Nachfrage.¹ Wo viel Business ist, ist der Missbrauch oftmals nicht weit. Angesichts der derzeitigen hohen Intransparenz, ob und inwiefern einzelne Finanzanlagen gewisse Nachhaltigkeitskriterien erfüllen, hat der Finanzminister schon öffentlich gewarnt: «Die Gefahr von Greenwashing ist gross.»² Dementsprechend besteht seitens der…

Praktische Problemfelder und Lösungsansätze in Bezug auf die «FinTech»-Bewilligungsvoraussetzungen von Art. 1b BankG

The piece at hand addresses in depth the FinTech license according to art. 1b of the Swiss Banking Act (BA) that is in force since January 1^st 2019. The FinTech license provides for a new category of a regulatory status for FinTech institutions that do not offer typical banking activities, but whose business touches certain elements of banking. It aims to foster innovation in the financial market…

Der Organisationsmangel in der Aktiengesellschaft und die Ernennung eines Sachwalters nach Art. 731b OR

Die B. AG ist eine Aktiengesellschaft mit Sitz in Zug. Das Aktionariat der B. AG besteht aus dem Gesuchsteller und Beschwerdeführer A. mit einer Beteiligung von 48,33 Prozent und C. mit einer…

Konzept und Praxis der aktienrechtlichen Sanierung

This essay deals with capital loss and overindebtedness and the related duties of the Board of Directors according to the current Swiss Code of Obligations. Furthermore, a look is taken at the future Swiss restructuring law. It has been concluded that Swiss restructuring law does little credit to its name as most restructuring proceedings end in bankruptcy of the respective company. One possible…

Transparenz von Aktionärbindungsverträgen und Gesellschafte­r­bindungsverträgen in Kapitalgesellschaften

A shareholders’ or members’ agreement is a contract concluded by some or all shareholders or members of a company, eventually with the involvement of the company itself, in order to arrange their legal position complementary to or differing from the relevant company law framework. Although dogmatically diverging, the contractual provisions and company law norms often form a unity. However,…

Finanznotlagerecht

The Bill of 2016 for a revision of the Swiss Corporation Law addresses, with new and quite lengthy dispositions, the thorny problem of corporate reorganizations in the event of upcoming financial difficulties. On the one hand, the classical and quite formal equity-related ­approach of European Continental Law to prevent ­«unlawful trading» is maintained, i.e. the Board’s duty to take immediate…

Ermessen und Ermessenskontrolle in Revision und Revisionsaufsicht

Judgement is of vital importance in the world of accounting and auditing. With a view to auditing, judgement is the auditor’s leeway in decision-making conferred upon by regulation and standards formulated in an open way. But the exercise of judgement is not at the auditor’s exclusive discretion; it has to be exercised with professional due care, which is conditioned by the observance of the…

Kernfragen der Aktienrechtsrevision

On November 23, 2016, the Federal Council published its proposal for a revised law on companies limited by shares. This article deals with four key aspects of the proposed revision. First, it addresses the proposed amendments regar­ding the capital structure. The authors thereby focus on the rules for capital increases, decreases and the possibility to introduce a so called «capital band». Secon…