Enforcement of rights by investors consultation for FIDLEG and FINIG — part IV
The Swiss government has opened a consultation process for the draft bills of a Financial Services Act and a Financial Institutions Act. These two projects will completely reshape the regulatory framework governing the Swiss financial markets. It includes new rules of conduct for financial intermediaries, a regulatory regime to prepare a prospectus in connection with public offerings of securities, registration obligations for client advisers and foreign service providers, licensing obligations for asset managers and comprehensive rules aiming to facilitate access to justice, including through a form of class actions.
The consultation process runs until 15 October 2014. In the second quarter of 2015, the Federal Council plans to send the bill of the Financial Services Act and the Financial Institutions Act to parliament.
In this fourth briefing on the draft bills, Bär & Karrer analyses the regulation FIDLEG provides in relation to the enforcement of rights by investors…
Click on the link below to read the rest of the Bär & Karrer briefing.
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Briefings from Bär & Karrer
Swiss resident individuals selling shares in a corporation that are privately held will, instead of a tax-free capital gain, realise income from capital that is partially or fully taxed.
Distributions from a Swiss resident company are subject to a 35 per cent Swiss Withholding Tax (WHT).