Update on retrocessions under Swiss law: risk of criminal liability for asset managers failing to report retrocessions to clients
4 December 2018
On 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”).  This decision is the latest of a series of landmark decisions issued by the Swiss Supreme Court […]
Interesting analysis by the International Bar Association of the Rudolf Elmer decision, featuring comments from a number of leading experts including Alexander Troller. Please read the full article here.
Swiss Courts dismiss foreign currency claims if the currency of the prayers for relief is wrongly denominated
9 October 2018
Swiss law is often chosen by foreign parties to govern their contractual agreements, mostly due to Switzerland’s stability and neutrality, its well-established case law and its highly liberal legal system which allows parties to shape contracts with little restriction. Nowadays, companies can easily open sub-accounts in different currencies to do […]
Banking fraud by hacking: the importance of not being idle when suing the bank
28 September 2018
In a recent decision the Swiss Supreme Court rejected a claim filed by a client following the execution of a fraudulent order on the grounds that the client failed to prove the hacking of its email account. In 2005, a holding company and its subsidiary (the “Client”) opened accounts with […]
Investor Claims, Regulatory Enforcement and Criminal Proceedings within the frame of Initial Coin Offerings
15 August 2018
In 2017, the number of Initial Coin Offerings (ICOs)/token-generating events (TGEs) exploded in Switzerland, surpassing and disrupting traditional venture capital investment. Switzerland, and in particularly its renowned Crypto Valley, has emerged as a global hub for ICOs. Under current Swiss law, there is no specific investor protection around ICOs. ICO […]
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