Suchergebnisse für reputation loss

Vertrauen – Begriffliche Grundlagen

In a philosophical tour d’horizon the abundance of con­ceptual foundations of trust is illuminated. Along with Charlie Chaplin and Vladimir Iljitsch Lenin, numerous other personalities have dealt with the term. In sociology, Niklas Luhmann described trust as a mechanism for reducing social complexity, as a function of faith without further review. In antiquity Aristotle’s trust was not only an…

Vertrauen in Geld

Money plays a crucial role in the traditional and in the digital economy. But money only constitutes a value if civil society has trust and confidence in the realizability of currency «investments» (acceptance of money, exchange partner, stability of currency). Recently proposals have been made to redefine the monetary instruments and to eliminate cash; notwithstanding the economic background of…

Vertrauen im Kapitalmarkt

Trust is an essential element of a capital market. The market participants want to be confident that the other actors behave as expected. Financial market regulation supports the underlying expectations by ensuring transparency, prohibiting market abuses, stipulating various duties and imposing sanctions or liability in the event of breach. The objectives of most regulation, i.e., the protection…

Vertrauen, Kredit und Kreditsicherheiten

The relationship between creditor and debtor has often been described as a quintessential relationship based on trust, as evidenced by etymological origin of the term credit. Credit relationships are indeed shaped by the risk of opportunistic behavior of the debtor and principal agent problems. Limiting these risks by providing adequate incentives for cooperative behavior is a key objective in…

Die regulatorische Antwort auf FinTech: Evolution oder Revolution? Eine Verortung aktueller Entwicklungen

While technological improvements have shaped the financial industry and its regulation for decades, FinTech is the buzzword of the hour. Rapidly developing digital technologies allow new market entrants to disrupt the traditional intermediary-based provision of financial services (I.). These new businesses – in particular those that operate payment systems or engage in crowdfunding – may clash…

Das Finanzmarktaufsichtsrecht vom vierten Quartal 2016 bis ins vierte Quartal 2017

Als Ausgangspunkt der Finanzkrise gilt gemeinhin der 9. August 2007, als die französische Bank BNP Paribas die Rücknahme von Anteilen an Investmentfonds aussetzte, die im US-Subprime Markt engagiert waren.¹ In der Folge profilierten sich die Notenbanken als unabdingbare Stützen des Finanzsystems.² Die Finanzkrise löste eine gigantische Regulierungswelle aus, die bis heute nicht gänzlich…

Das Aktienkapital im Entwurf zur Aktienrechtsrevision

On November 23, 2016, the Federal Council published its proposal for a revised law on companies limited by shares. This article deals with the share capital, one of the key aspects of the proposed revision. First, it addresses the specific characteristic of Swiss law, according to which shares have a nominal value. Second, the article analyzes how the procedures of capital changes are regulated in…

Corporate Social Responsibility

The concept of Corporate Social Responsibility demands that companies comply with ethical standards with regard to human rights and the protection of the environment wherever they are active and that they, in general, respect the interests of society at large in their business. This concept is promoted by the UN in the UN Guiding Principles of Business and Human Rights. While Swiss law obliges…

Ermessen und Ermessenskontrolle in Revision und Revisionsaufsicht

Judgement is of vital importance in the world of accounting and auditing. With a view to auditing, judgement is the auditor’s leeway in decision-making conferred upon by regulation and standards formulated in an open way. But the exercise of judgement is not at the auditor’s exclusive discretion; it has to be exercised with professional due care, which is conditioned by the observance of 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…