Update on retrocessions under Swiss law: risk of criminal liability for asset managers failing to report retrocessions to clients
4 décembre 2018On 14 August 2018, the Swiss Supreme Court ruled that the concealment of retrocessions received by an asset manager may constitute criminal mismanagement pursuant to Art. 158(1) of the Swiss Criminal Code (“SCC”). [1] This decision is the latest of a series of landmark decisions issued by the Swiss Supreme Court […]