Suchergebnisse für media sector

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…

Darf die Nationalbank kryptobasierte Sichtguthaben (wCBDC) ausgeben?

This article examines whether the current monetary law provisions permit the issuance of wholesale central bank digital currency (wCBDC) by the Swiss National Bank. After interpreting the relevant competence provisions, the question can in principle be answered in the affirmative, since wCBDC is not a new, third type of central bank money (in addition to banknotes and traditional sight deposits),…

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 compliance officer face au risque pénal découlant du dispositif anti-blanchiment

In the financial sector, the function of compliance officer is closely linked to the fight against money laun­dering, which is one of the main risks for the Swiss financial centre. The profession has important responsibilities in this field and breaches of its obligations can lead to (administrative) criminal sanctions, in particular for money laundering or violation of the duty to report a…

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…

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)…

Crowdinvesting mittels Initial Coin Offering – Regulierungsaufgaben im -Token-Universum

Initial coin offerings (ICOs) are a phenomenon with similar characteristics as the cryptocurrency boom. Projects that typically have no history of producing a product or revenue raise capital by issuing their own tokens to investors. Therefore, the Federal Council adopted in December 2018 a report on the legal framework for blockchain and distributed ledger technology (DLT) in the financial…

La communication de soupçons au MROS: du droit à l’obligation

Communication right in case of suspicion of money laundering was introduced in 1990 in the Swiss Criminal Code, despite opposition from the banking sector at that time. It has been completed, in 1998, by a duty to file a report with the Money Laundering Reporting ­Office Switzerland, when reasonable grounds to suspect that assets involved in the business relationship are linked to a criminal…

Digitalisation dans le domaine bancaire et aperçu des risques juridiques

There is today a strong trend towards digitization in the banking sector in line with the constant development of new technologies. Swiss legislation authorizes online bank account opening processes and can be seen as pretty liberal in terms of reception and recording of banking documentation in electronic form. In this context, Swiss banks may be interested to evaluate the feasibility of, and…