JD Supra Switzerland

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Latest documents

• 2021 Venture Capital Guide - Switzerland

  World Law Group member firms recently collaborated on a Global Venture Capital Guide that covers more than 30 jurisdictions on investment approval processes, typical investment sectors and investment structures on Venture Capital deals (and more!).

• After Switzerland rejects strong corporate ethics controls, new proposal likely

  ethikos 35, no. 1 (January 2021) - A vote that would have banned the national bank from investing in defense industries and would have also stiffen the penalties against Swiss corporations violating human rights and causing environmental harm was rejected. A counterproposal is now being considered. Under the counterproposal, companies are encouraged to respect human rights and environmental standards not only in Switzerland but all over the world, but it “stops short of allowing them to be sued for liability.”

• Switzerland's new regulatory landscape

  Numerous legal developments are currently impacting the Swiss financial market place. The new regime is intended to align Switzerland with the rest of Europe, as well as keeping up with new technologies and boosting the attractiveness of Switzerland as a stable and innovative financial and asset management centre.

• Impact of Swiss Privacy Shield Inadequacy Decision

  In a much anticipated ruling, this month the Swiss Data Protection Authority concluded that the EU-US Swiss Privacy Shield was no longer an adequate method for transferring personal information from Switzerland to the US. In reaching this decision, the Swiss data protection authority agreed with the recent, similar, EU decision of inadequacy. Like the EU, Switzerland anticipates those transferring personal information from Switzerland to the US to rely on standard contractual clauses. However like the EU, Switzerland cautions that companies should assess “on a case-by-case basis” whether the recipient provides sufficient protection...

• Switzerland cancels Privacy Shield

  Report on Supply Chain Compliance 3, no. 18 (September 17, 2020) - Following the European Court of Justice’s decision to strike down the EU-US Privacy Shield mechanism for data transfer, the Swiss Federal Data Protection and Information Commissioner reviewed the decision and came to the same conclusion....

• Swiss Regulator Determines Swiss-US Privacy Shield Is Inadequate

  Swiss companies are advised to take additional measures when transferring personal data from Switzerland to the US. On 8 September 2020, the Swiss data protection authority, Adrian Lobsiger (the Federal Data Protection and Information Commissioner, FDPIC), concluded in his annual review that the Swiss-US Privacy Shield does not provide an adequate level of protection for personal data transfer from Switzerland to the US pursuant to the Swiss Federal Act on Data Protection (FADP).

• Swiss Privacy Authority Considers Swiss–U.S. Privacy Shield No Longer Valid

  On September 8, 2020, the Swiss Federal Data Protection and Information Commissioner (FDPIC) announced that it no longer considers the Swiss-U.S. Privacy Shield (Swiss Shield) to provide adequate protections for transfers of Swiss personal data to the U.S. This development was anticipated following the invalidation of the EU-U.S. Privacy Shield by the Court of Justice…

• Swiss Immigration Update - Quarantine for Travelers Entering from Certain Countries and Masks Compulsory in Public Transport

  While Switzerland started to ease pandemic related requirements and opened its borders, the number of confirmed COVID-19 cases in the country is slowly rising again. In response,  Swiss authorities announced the following restrictions in effect as of July 6, 2020...

• COVID-19: Swiss Government Financial Assistance Measures -COVID-19 – The Swiss government’s measures to support the Swiss economy

  Since mid-March 2020, the Swiss government has enacted a number of measures to mitigate the effects of the coronavirus (“COVID-19”) on the Swiss economy. The most important measure was announced on 20 March 2020 to help SMEs survive the short-term effects of COVID-19 by providing cash flow assistance....

• CAS Sun Yang v Wada

  In an award released on 28 February 2020, the Court of Arbitration for Sport ("CAS") upheld the appeal filed by the World Anti-Doping Agency ("WADA") against the Chinese swimmer Sun Yang and the Fédération Internationale de Natation ("FINA"), imposing on the Olympic champion an eight-year competition ban and effectively terminating his career....

Featured documents

• Absinthe Makers Are Not Toasting In Switzerland

  Although once illegal in the United States, absinthe can now be consumed in your local bars. It was a favorite drink of writers and artists such as Ernest Hemmingway, Vincent van Gogh, Oscar Wilde and Pablo Picasso. Unfortunately, this green anise-flavored spirit did not fare so well in Swiss...

• Significant Swiss ruling handed down on privilege in anti-money laundering investigations

  In a recent judgment, the Swiss Federal Tribunal has ruled that, where a financial institution delegates its investigation and reporting obligations under the Swiss Anti-Money Laundering Act ("AMLA") to external counsel, certain work produced by external counsel on the internal investigation will...

• Swiss Corporate Law Changes: End of Bearer Shares?

  • Since 2015, acquirers of Swiss non-listed bearer shares must report their name and address to the company within one month of the acquisition. The ultimate beneficial owner of an interest of 25 per cent or more has to be reported. The company has the obligation to keep a register of bearer...

• Switzerland's new regulatory landscape

  Numerous legal developments are currently impacting the Swiss financial market place. The new regime is intended to align Switzerland with the rest of Europe, as well as keeping up with new technologies and boosting the attractiveness of Switzerland as a stable and innovative financial and asset...

• Enforcement of Foreign Judgment or Arbitral Awards in Switzerland

  SWITZERLAND QUESTIONNAIRE The aim of this questionnaire is to provide a framework for each country representative to describe the process, procedure and any other relevant issues, involved in enforcing a foreign judgment in that country. The questionnaire deals with both enforcement of judgments ...

• Employment Law in Switzerland

  Switzerland is a democratic country with a population of almost 8 million people, located in the heart of Europe and comprised of 26 cantons, also known as districts, that operate utilizing three official languages: French, German and Italian. Each canton has its own constitution, legislature,...

• Swiss-US Privacy Shield Will Replace Swiss-US Data Protection Safe Harbor

  On January 11, 2017, the Swiss Federal Council announced that a new framework will govern the transfer of personal data from Switzerland to the US. According to the Federal Council, the Swiss-US Privacy Shield Framework “will apply the same conditions as the European Union.” The International...

• Switzerland: New Laws on Financial Institutions

  • Following the 2008 crisis, Switzerland launched a legislative project to create uniform competitive conditions for financial intermediaries and improve client protection. • Swiss Parliament adopted the FinIA on 15 June 2018. • The FinIA is part of the new financial market architecture and ...

• After Switzerland rejects strong corporate ethics controls, new proposal likely

  ethikos 35, no. 1 (January 2021) - A vote that would have banned the national bank from investing in defense industries and would have also stiffen the penalties against Swiss corporations violating human rights and causing environmental harm was rejected. A counterproposal is now being...

• Swiss Delivering Bank Records to IRS

  The Swiss Tax Administration (SFTA) has begun notifying US persons with Swiss accounts that it will turn account records over to the IRS absent an appeal by the account holder. Please see full alert below for more information....