Beiträge

Beiträge

Beiträge

Verfügt die FINMA über genügend wirksame und scharfe Instrumente gegen (höchste) Bankmanager?

In March 2023, Crédit Suisse (CS) had to be taken over by UBS. It was the first global systemically important bank to face imminent resolution since the financial crisis of 2007–2008. Unlike UBS in 2008, CS remained well capitalized until the end. But clients had lost confidence in the bank’s management. This led to a bank run and thus to the bank’s demise. The ongoing crisis of specialist and…
Prof. Dr. iur. Nina Reiser LL.M.
SZW-RSDA 1/2024 | S. 80
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Beiträge

Finanzmarktaufsicht zwischen Macht und Ohnmacht

FINMA has been under constant criticism since its inception; the disappearance of Credit Suisse has only added fuel to the fire. The case of FINMA’s attempted enforcement of a capital surcharge – from 2016 until today! –, which is well documented by court rulings, drastically highlights the difficulties of delivering effective supervision in individual cases in accordance with the mandate. …
Dr. David Wyss LL.M.
SZW-RSDA 6/2023 | S. 623
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Beiträge

Floating Charge as Security in Debt Finance Transactions

The granting of security by the way of a floating charge is a common law concept which allows the entirety of a company’s assets to be used as collateral. Borrowers and lenders profit from this highly flexible means of providing a comprehensive security interest in debt finance transactions. This article examines whether the concept of floating charge is recognized under Swiss law or not. For…
Christian Schneiter LL.M., Dorothea Wirth LL.M.
SZW-RSDA 6/2023 | S. 644
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Beiträge

Zur Genehmigungsfiktion in Banken-AGB – eine kritische Auseinandersetzung mit der bundesgerichtlichen Rechtsprechung

In practice, the fiction of consent has become a veritable all-purpose weapon of banks and other financial service providers. In disputes with their clients banks regularly argue that the client has long since tacitly consented to any breach of duty on the part of the bank. The Swiss Federal Supreme Court has so far been very reluctant to set limits on this argument. This article takes a critical…
Tobias Aggteleky, Robin Grand
SZW-RSDA 6/2023 | S. 661
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Beiträge

Die Registrierungsvereinbarung – insbesondere bei tokenisierten Forderungsrechten

The registration agreement links a certain right to a token or other informational unit on a distributed ledger. In doing so, the issuer creates a ledger-based security, which is an instrument of public faith equivalent to a bearer or «ordre» security and features scriptural legality. The article examines the function and securities law context of the registration agreement, including…
Dr. iur. Yves Mauchle
SZW-RSDA 6/2023 | S. 683
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Beiträge

The New EU Foreign Subsidies Regulation and its Implications for Switzerland

The EU has adopted a new unilateral instrument to control subsidies granted by non-EU countries, such as Switzerland, to companies operating in the EU. This subsidy control combines antitrust, state aid and trade rules, but applies directly to companies rather than to foreign states or granting authorities. Companies with some activities in the EU fall within the scope of this foreign subsidy…
Dr. iur. Pranvera Këllezi LL.M.
SZW-RSDA 6/2023 | S. 699
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