Suchergebnisse für changes in the shareholder structure

TBTF: Do increased capital requirements, bail-in powers and resolution ­authority solve the problem?

In the wake of the financial crisis of 2008, governments across the world decided that it was time to end the bail-out of too-big-to-fail financial institutions. This article considers the strategies deployed in Switzerland to solve the problem: increased capital requirements, including leverage ratios and liquidity requirements, funding of the resolution in the event of a gone-concern,…

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…

Wie die Arbeit, so der Lohn – Vergütung in privaten und kotierten Gesellschaften

Rising executive pay is a vital topic for shareholders, proxy advisors, academics and the wider public. It is worth noting that the remuneration of auditors for their audit services has hardly attracted shareholder attention even though falling audit fees may be a reason for weaknesses in corporate control. In this perspective it looks like an anomaly that the remuneration of the party…

Editorial

Critique, le Professeur Peter V. Kunz met en garde contre la moralisation du droit et son instrumenta­lisation au détriment du principe de neutralité qui devrait caractériser un corpus de règles…

Le régime de responsabilité civile en matière d’émissions publiques de jetons digitaux (ICO)

Initial Coin Offerings (ICOs) consist of an innovative form of capital raising. In the digital era, it has become technically possible to raise substantial funds within a very short period of time. This paper analyses the civil liability regime applying to misrepresentations communicated to investors acquiring tokens in an ICO. Pursuant to the prospectus liability provisions of the Swiss Code of…