Suchergebnisse für Treuepflicht

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.

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…

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.

Berücksichtigung von ESG-Präferenzen im Finanzdienstleistungs­geschäft

On 1 January 2023, the Swiss Bankers Association’s «Guidelines for the financial service providers on the integration of ESG-preferences and ESG-risks into investment advice and portfolio management» entered into force. This marks the first binding Swiss (self-)regulation on Sustainable Finance at the point of sale. One of the key amendments includes the financial service providers’ duty to…

Insider Trading im digitalen Zeitalter: Neue Herausforderungen und Risiken

Insider trading has existed since the launch of the very first organized trading venues and is now prohibited in most jurisdictions. The growing digitalization of the financial industry is adding several layers of complexity to the topic and creating both new risks and opportunities for market participants. First, digitalization brings about a higher interconnectivity between the global financial…

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…

Das Finanzmarktaufsichtsrecht vom vierten Quartal 2021 bis ins vierte Quartal 2022

Ohne Vertrauen keine funktionsfähige Gemeinschaft! Was für Staat und Gesellschaft gilt, gilt auch für Unternehmen und deren Mitarbeitende auf allen Stufen. Das unternehmensinterne Kontrollumfeld trägt diesem Umstand Rechnung, was sich in einer angemessenen Breite und Tiefe der Kontrollen ausdrücken muss, ohne die Mitarbeitenden auf Schritt und Tritt zu überwachen. Die Enttäuschung von…

Protokollierung von GV- und VR-Beschlüssen als Gültigkeitsform

The «new» corporation law provides for some new and overall numerous ways to conduct shareholders’ and board meetings. Irrespective of the way they are conducted there is a duty to minute the meetings. Contrary to the traditional opinion the minutes are a validity requirement. Not minuted shareholders’ and board resolutions are therefore not valid and null and void.

Auskunfts- und Einsichtsrecht des Aktionärs – Durchzogene Bilanz der Aktienrechtsrevision

The revision of the Swiss Code of Obligations (CO) concerning the joint stock corporation – which will come into force on 1 January 2023 – substantially alters the shareholders’ rights to ask for information about the affairs of the company and to inspect its ledgers and files. Compared to the present legal situation, which only entitles a shareholder to obtain information during the course of a…

Relationship Agreements zwischen Vertragsfreiheit und zwingendem Aktienrecht

Relationship agreements between listed companies and large shareholders have gained in popularity over the past years. Relationship agreements cover such topics as the shareholder’s representation on the board of directors, voting at shareholder meetings, the shareholder’s right to receive information from the company, and exit provisions (e.g., lock-up and standstill undertakings). From the…