Résultats de recherche pour Datenschutz

Intelligence artificielle et automatisation des décisions dans le secteur bancaire et financier : application de la LPD et du RGPD

This article addresses the application of Automated Decision-Making (ADM) in banking and finance, under the revised Swiss Federal Act on Data Protection and the EU’s GDPR. It scrutinizes the legal framework of ADM, particularly considering the European Court of Justice’s interpretation in the SCHUFA Holding AG case, which broadens the scope of “decision” within the GDPR, encompassing actions like…

Finanzmarktenforcement und Kommunikation: Zum Kommuni­kationsverhalten der FINMA hinsichtlich einzelner Enforcementverfahren

In the spring of 2023, the Swiss financial market saw the state-backed takeover of Credit Suisse by UBS, sparking global interest and retrospective scrutiny. The SNB, EFD and FINMA all faced criticism, but financial regulator FINMA in particular was condemned for perceived ineffectiveness and poor communication. Calls for legal reform aim to enhance FINMA’s ability to communicate enforcement…

Das Supervisory Privilege für Akten aus dem Aufsichtsverhältnis

The Swiss Supervisory Privilege, which was added to FINMASA in 2016, is a new legal institution. It empowers FINMA to protect documents from the supervisory relationship between a supervised entity and itself by prohibiting their disclosure to third-party authorities and other third parties without FINMA’s consent if there are grounds for doing so that are particularly worthy of protection…

Vergütung der Rechenschaft über Retrozessionen

Based on Art. 400 para. 1 of the Swiss Code of Obligations, financial service providers must inform their clients if they receive payments or other benefits from third parties in connection with their client-related services (so-called inducements, kickbacks, or retrocessions). This article analyzes to what extent and under which conditions financial service providers can charge additional fees…

Les données bancaires pseudonymisées – Du secret bancaire à la protection des données

Law strictly restricts the transfer of personal data and data protected by banking secrecy, especially outside of Switzerland. Personal data is defined as all information relating to an identified or identifiable person. Similarly, legal scholarship and case law hold that banking secrecy protects only client identifying data. The ability to identify the relevant person is thus core to both data…

Protection des données et nouvelles procédures de communication aux autorités fiscales et de surveillance étrangères

At a time when banking secrecy is shrinking, the lawmaker has decided to redefine the role of data protection in international cooperation procedures with regulatory and tax authorities. The law allows a supervised entity, typically a bank, to transmit confidential information to certain foreign authorities and organizations, but requires it to safeguard the rights of its clients and other third…

Swiss Bank Program: Non Prosecution Agreements Implementation & Beyond

The United States Department of Justice’s Swiss Bank Program undoubtedly accounts for one of the most ­ambitious global foreign enforcement of U.S. tax laws. The resulting Non-Prosecution Agreements – signed by a record of 80 banks – were reached after long, demanding internal investigations and cooperation efforts with U.S. authorities. But, these NPAs are not the end. To the contrary, they…

Know Your Customer : Quo Vadis ?

Know your client (KYC) is now an essential due diligence requirement for all banking business. The concept only appeared relatively recently in legislation, however, in conjunction with increased efforts to combat organised crime and money laundering. For around 40 years, the scope and content of know your client has continued to expand, sometimes in stark contrast to other standards. This article…