Suchergebnisse für crédits

Le dommage d’investissement et sa preuve

Many civil claims against financial advisers and portfolio managers fail because they do not meet the high threshold set out by Swiss courts for the allegation and proof of the claimant’s loss. This article critically reviews the extensive case law on the topic. We submit that unauthorized financial transactions are distinct from other defective transactions. Following long-established case law…

La banque et le créancier prêteur face à l’insolvabilité de l’emprunteur : moyens préventifs et curatifs

In a contractual relationship, a bank, or more generally a lender, on the one hand, and a borrower on the other, harmoniously blend, as long as the borrower complies with the repayments’ obligations arising from the loan agreement. However, in such an agreement, risk lies primarily on the lender. Indeed, as soon as the money has been made available, the lender takes the default’s risk. This…

L’intermédiation en assurance : quelques considérations à la lumière de la révision partielle de la loi fédérale sur la surveillance des institutions d’assurance privées (LSA)

The Federal Act of 17 December 2004 on the Oversight of Insurance Companies (IOA) underwent a partial revision which was adopted by the parliament on March 18, 2022. The entry into force is planned for July 1, 2023, after the ordinance has been updated following the consultation procedure that ended in December 2022. This partial revision responds to developments that have occurred in the…

Das schweizerische Bankprivatrecht 2022 | Le droit bancaire privé suisse 2022

Die Rechtsprechung zum privaten Bankrecht skizziert jeweils die neusten Entwicklungen in der richterlichen Rechtsfortbildung. Tatsächlich führen uns viele Entscheide aber auf eine Reise in die…

Le dommage d’investissement et sa preuve

Many civil claims against financial advisers and portfolio managers fail because they do not meet the high threshold set out by Swiss courts for the allegation and proof of the claimant’s loss. This article critically reviews the extensive case law on the topic. We submit that unauthorized financial transactions are distinct from other defective transactions. Following long-established case law…

La banque et le créancier prêteur face à l’insolvabilité de l’emprunteur : moyens préventifs et curatifs

In a contractual relationship, a bank, or more generally a lender, on the one hand, and a borrower on the other, harmoniously blend, as long as the borrower complies with the repayments’ obligations arising from the loan agreement. However, in such an agreement, risk lies primarily on the lender. Indeed, as soon as the money has been made available, the lender takes the default’s risk. This…

L’intermédiation en assurance : quelques considérations à la lumière de la révision partielle de la loi fédérale sur la surveillance des institutions d’assurance privées (LSA)

The Federal Act of 17 December 2004 on the Oversight of Insurance Companies (IOA) underwent a partial revision which was adopted by the parliament on March 18, 2022. The entry into force is planned for July 1, 2023, after the ordinance has been updated following the consultation procedure that ended in December 2022. This partial revision responds to developments that have occurred in the…

Das schweizerische Bankprivatrecht 2022 | Le droit bancaire privé suisse 2022

Die Rechtsprechung zum privaten Bankrecht skizziert jeweils die neusten Entwicklungen in der richterlichen Rechtsfortbildung. Tatsächlich führen uns viele Entscheide aber auf eine Reise in die…

To Infinity and Beyond: U.S. Dollar-Based Jurisdiction in the U.S. Sanctions Context

The power to print the world’s dominant currency gives the United States enormous leverage in pursuing its geopolitical objectives. This is particularly evident in the sanctions context, where the mere “use” of the U.S. financial system will pull parties into U.S. jurisdiction even if they are located outside the United States. This article highlights the recent extensions of jurisdictional…

Le droit bancaire privé suisse 2021 / Das schweizerische Bankprivatrecht 2021

Au moment où nous écrivons ces lignes, la Russie envahit l’Ukraine. L’Union européenne et les États-Unis ont adopté de nouvelles sanctions contre plusieurs centaines de personnalités liées au régime…

Do Robots Rule Wealth Management? A Brief Legal Analysis of Robo-Advisors

What are the legal duties of robo-advisors in Switzerland? In this article, we focus on the legal framework arising from Swiss financial market law, contract law and data protection law. We also make a comparison with European law. We first explain how robo-advisors work and conclude that, contrary to what their name may suggest, they are primarily portfolio managers. As financial service providers…

Les effets des nouvelles règles sur la prescription en droit bancaire et financier

The partial reform of limitation rules in the Code of obligations, effective since 2020, has limited impact on the banking and financial sector. Yet specific matters call for renewed attention. We analyse the consequences of the new 3-year and 10-year limitation rule for claims based on torts and unjust enrichment, specifically in connection with defective transfers of funds, intermediated…

Das schweizerische Bankprivatrecht 2020 | Le droit bancaire privé suisse 2020

Das Jahr 2020 war in vielerlei Hinsicht aussergewöhnlich. Demgegenüber bewegen sich die Entscheide zum privaten Bankrecht, die in diesem Jahr gefällt wurden, zu einem Grossteil im Rahmen des…

Trois modèles de contrôle des investissements transfrontaliers

The screening of foreign investment has become a growing concern for many countries. In the midst of a trade war between the US and China as well as issues related to state-owned companies’ interference in the EU, it is bound to become a subject of heated debates in Switzerland. As we continue to live through a global pandemic, some countries are seeing themselves lacking or at least vulnerable…

Pièges fiscaux du contrat de prêt

This contribution deals with the tax « traps » of the loan agreement. Loans are usually quite simple from a tax standpoint since they are neutral. Yet, the author examines three specific instances where things do not turn out so well. The first of which is the cancellation of ­indebtedness, which may result in taxable income ­(Article 16 par. 1 or Article 18 par. 1 Direct Federal Tax Law)…

Le droit bancaire privé suisse 2019 / Das schweizerische Bankprivatrecht 2019

Cette chronique s’allonge chaque année. Sa consultation en devient moins aisée. Pour faciliter son accès aux lecteurs nous avons introduit trois nouveautés.

Das schweizerische Bankprivatrecht 2018 / Le droit bancaire privé suisse 2018

Das Jahr 2018 brachte einen reichen Fundus an Entscheiden im privaten Bankrecht. Etliche davon schreiben Geschichten fort, über die wir bereits in früheren Übersichten berichtet hatten. Dazu gehört die Klage des Drogeriekönigs Müller gegen die Bank J. Safra ­Sarasin im Zusammenhang mit den sogenannten Cum-­Ex-Geschäften (r34), die Fortsetzung der Verantwortlichkeitsklage der Glarner…

La classification des clients selon la loi sur les services financiers

This article looks at the client categorisation system ­reflected in the new Swiss Federal Act on Financial ­Services. Firstly, it defines the notion of client classification before highlighting similar classification mechanisms already existing under the current law. The article goes on to detail the three categories of clients, namely private, professional and institutional, as well as the…

Strafprozessuale Kontosperren bei ausstehenden Lombardkrediten – Ein Problem für die kreditgebende Bank

Lombard credits are a widespread financial instrument. They may however lead to problems for the lender, usually a bank, if the assets pledged as a security for the loan become the subject of a seizure by criminal authorities. A seizure renders it impossible for the bank to realize the assets if the borrower is in default with repayment obligations. In order to have the seizure lifted, the bank…

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,…

Propositions pour un trust suisse

New voices, including in Parliament, are now calling for the adoption of the trust as an institution of Swiss law. This would provide Swiss residents with a much-needed vehicle for estate planning and structuring. It would also improve the legal certainty and robustness of very common business transactions. Notably it would allow lawyers, notaries and other professionals to protect their clients’…

Le droit bancaire privé suisse 2017 / Das schweizerische Bankprivatrecht 2017

Les services d’investissement (intermédiation sur le marché des capitaux et le marché monétaire) ont une telle importance dans le débat sur la place financière suisse qu’on oublie souvent de rappeler…

La banque exposée aux prétentions de tiers : art. 402 CO et rétention ­d’actifs de clients

The so-called claw-back suits filed by the liquidators of Fairfield Sentry and other feeder funds involved in Bernard Madoff’s bankruptcy have prompted the defendant banks to secure their recourse against their clients by withholding money and other assets in their custody. This article analyses the legal basis for the retention of client assets under Swiss law. It concludes that, except when the…

Das schweizerische Bankprivatrecht 2016 / Le droit bancaire privé suisse 2016

Das Bankprivatrecht regelt diejenigen Rechtsbeziehungen der Bank, die ihre Grundlage im Privatrecht haben, wobei die vertragsrechtlichen Bindungen zwischen der Bank und ihren Kundinnen zum…

Disgorgement Remedy for Duty of Loyalty Violations

Wrongdoing should not be rewarded. – Although this is considered a core idea of Swiss law’s understanding of justice, the legal system is struggling with the principle’s satisfactory implementation when it comes to wrongfully obtained profits. One would expect the law to provide for suitable legal instruments to disgorge any gains unduly made by wrongdoers, particularly if the wrongdoer is a…

Le droit bancaire privé suisse 2015 / Das schweizerische Bankprivatrecht 2015

Cette chronique paraît six mois après la précédente (RSDA 2015 386) et figurera désormais chaque année dans le 2^e cahier de notre Revue. On aurait pu espérer que cette livraison-ci s’en…

Global Financial Standards and Regulatory Reforms

The present paper discusses global financial standards and their relevance as part of the regulatory reforms initiated in the aftermath of the financial turmoil. In a first – precursory – part, it provides more clarity on the notion and role of “soft” law instruments, which have become an eminent pillar for the regulation of global finance. The essay likewise highlights the financial sector…

Gouvernance des sociétés de famille – Quels sont les enjeux ?

The current corporate law revision aims namely at improving good governance rules. In this respect, the preliminary Federal Council draft bill, for which the consultation process was opened back in November 2014, puts forward several measures aiming at strengthening the protection of minority shareholders. The author considers that the existing shortcomings in the governance of private companies…

Das schweizerische Bankprivatrecht 2014–2015/Le droit bancaire privé suisse 2014–2015

Während sich auf der politischen Bühne langsam eine gewisse Entspannung rund um die unversteuerten Gelder auf Schweizer Bankkonten abzeichnet, ist die Rechtsprechung der vergangenen Berichtsperiode…

La législation britannique contre la corruption : application du Bribery Act aux personnes suisses

The UK Bribery Act is an ambitious legislative initiative and the centerpiece of the British legal framework against corruption. In addition to the classic criminal offences (active and passive bribery, corruption in the public and in the private sector), the Bribery Act introduces a remarkable form of criminal liability for legal persons. The new corporate offence and the extraterritorial reach…