Suchergebnisse für limitation du transfert des actions

Actions de loyauté : une fausse bonne idée

Over its summer session 2018, the Swiss National Council adopted the possibility for companies limited by shares (sociétés anonymes/Aktiengesellschaften) to include in their articles of association certain financial privileges to the benefit of shareholders registered for at least two consecutive years in the share register (loyalty shares). This article presents the legislative work in progress…

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…

Marge de fluctuation du capital (art. 653s ss nCO) : de la sauvegarde des créanciers et des actionnaires, en particulier lors de l’acquisition par la SA de ses propres actions

As of the entry into force, on 1^st January 2023, of the revised Swiss Limited Companies Law (« Aktiengesell­schaft », « société anonyme »), the margin of fluctuation of capital (« Kapitalband », « marge de fluctuation du capital ») will allow the general assembly of shareholders to authorise the board of directors to increase or reduce the share capital within a certain interval during a maximum…

Sanctions Américaines: Extraterritorialité et Risques Bancaires

A Swiss bank operating in the US must comply with applicable US laws. Difficulties may arise from the „off-shore“ application of US sanctions. The US sanctions regime is well known¹, especially through the publications of the Office of Foreign Assets Control (OFAC)² and through the calls for caution issued by the banking supervisory authority³. This contribution provides an update on the…

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…

Intelligence artificielle: licence libre et gouvernance collective des données à travers l’altruisme des données et les data trusts

Data access is central for the development of Artificial Intelligence (AI). Data may be however subject to a multitude of rights and actors (e.g. copyrighted works or personal data posted on social media or collected through captcha and used for AI training purposes), leading to a fragmented legal framework and legal frictions. This contribution explores how to apply open and free licenses to all…

Sociétés hybrides, entreprises sociales, B-Corp: Le droit suisse est-il approprié?

Entrepreneurs have to increasingly navigate in a world where they cannot ignore their accountability towards the SDGs and society in general. Companies in fact are expected to consider the interests of all stakeholders, and management is required to adopt a long-term and sustainable vision, in which making profits goes hand in hand with the necessity to create a positive impact. This trend is…

Das Gesellschaftsrecht 2020/2021 Le droit des sociétés 2020/2021

Auch dieses Jahr befassten sich die Gerichte wieder eingehend mit der Thematik der aktienrechtlichen Verantwortlichkeit und brachten einige interessante Entscheide insbesondere im Zusammenhang mit…

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…

Consolidation in the Swiss Portfolio Management Industry – Selected Aspects of M&A Transactions

In the ongoing consolidation wave sweeping the wealth management industry in Switzerland and the rest of the world, Swiss portfolio managers have to be alert. Both as a potential buyer or seller, there are important points to keep in mind to gauge whether a share deal or asset deal is the right choice, whether the timing is right, and how to maximise the value of the transaction, while limiting…