Résultats de recherche pour Schweizer Datenschutz

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…

Informationskonzept im neuen Aktienrecht

The information asymmetry between shareholders and managers calls for the implementation of an efficient information concept within stock corporations. In the course of the Swiss Stock Corporation Reform of 2020, the former information concept was partially revised. This article takes a critical look at the revised provisions and puts them in context.

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…

Echtzeitbankenaufsicht – la panacée?

In recent years, the concept of data-based banking supervision has evolved to influence the dynamics between supervisors and supervised institutions. This de­ve­lopment, if accompanied by adequate implementation, undoubtedly improves the quality of banking supervision. However, data-based supervision does not automatically lead to real-time supervision. While it tends to reduce the time lag…

Decentralized Exchanges: Grundlagen, Risiken und ausgewählte aufsichtsrechtliche Aspekte

Decentralized exchanges (DEX) enable traders to interact directly and to exchange their digital assets – such as cryptocurrencies – on a peer-to-peer basis without needing to trust an intermediary or each other. This article first delves into the functioning of DEX with a focus on their price-finding mechanisms. Subsequently, it outlines the main risks of DEX and gives an overview of certain…

Neuerungen und offene Fragen der revidierten Geldwäschereivorschriften im Bereich des Nachmeldeverhaltens von Finanzintermediären

The current revision of the anti-money laundering provisions introduces changes in the area referred to as subsequent reporting that have not undergone much examination thus far. However, these changes also have significant implications for financial intermediaries: With the removal of the time limit for analysis, the maximum time limit for executing client orders following a suspicious activity…

Das Finanzmarktaufsichtsrecht vom vierten Quartal 2021 bis ins vierte Quartal 2022

Ohne Vertrauen keine funktionsfähige Gemeinschaft! Was für Staat und Gesellschaft gilt, gilt auch für Unternehmen und deren Mitarbeitende auf allen Stufen. Das unternehmensinterne Kontrollumfeld trägt diesem Umstand Rechnung, was sich in einer angemessenen Breite und Tiefe der Kontrollen ausdrücken muss, ohne die Mitarbeitenden auf Schritt und Tritt zu überwachen. Die Enttäuschung von…

Digitale Generalversammlungen und Verwaltungsratssitzungen

The 19 June 2020 revision of the provisions on the limited by shares company contains various facilitations for the use of technical means in the conduct of general meetings and board meetings. What are the concrete options available and what are the practical implications of these innovations? What do banks need to consider from a prudential perspective? After an overview of the digitization in…

Relative Marktmacht, Geoblocking und Digitalisierung

The rules on relative market power, recently introduced into Swiss competition law, generate far-reaching overlaps with the geo-blocking prohibition that took effect in parallel, as part of Swiss unfair competition law. This contribution analyses these overlaps, with a focus on the “shop like a local” principle which is also known from EU geo-blocking rules. Furthermore, the provision…

Auskunfts- und Einsichtsrecht des Aktionärs – Durchzogene Bilanz der Aktienrechtsrevision

The revision of the Swiss Code of Obligations (CO) concerning the joint stock corporation – which will come into force on 1 January 2023 – substantially alters the shareholders’ rights to ask for information about the affairs of the company and to inspect its ledgers and files. Compared to the present legal situation, which only entitles a shareholder to obtain information during the course of a…