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From the magazine SZW-RSDA 2/2021 | p. 121-133 The following page is 121

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 securities and crypto-assets. We also consider investment funds in the event of a claim brought by an investor after the redemption of her units. The interruption of the limitation period for claims against joint debtors and sureties (cautions; Bürgen) has partially changed but without significant impact for creditors. We revisit the effects of criminal limitation rules on civil claims in respect of inducements (retrocessions). The Financial Services Act deals with prospectus liability and the right of a client to obtain documents from its financial services provider but does not address limitation…

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