With entry into force of the Financial Institutions Act (FinIA) and Financial Services Act (FinSA) and the implementing ordinances, especially active asset managers and Swiss and non-Swiss financial service providers must cope with various new affiliation and registration deadlines. Given the authorities now have set the framework, the financial institutions have to take action within the next couple of months.
The AMLA is one of the fastest changing laws in Switzerland. Fundamental amendments are made to it practically every year. Just a few days ago, the Council of States voted on two draft laws which are of great importance for many economic players in Switzerland.
An update on new decisions, the relevant legislative process and other trends in the fields of intellectual property and unfair competition law from a Swiss perspective.
The Swiss Federal Administrative Court (SFAC) recently clarified (B-622/2018, 8 June 2020) that the “relevant” public, in a legal meaning, for (traditional) pastries comprises all consumers and professionals residing in Switzerland irrespective of the culinary origins of such pastries.
In a recent decision (4A_613/2019, 11 May 2020), the Swiss Federal Supreme Court (Supreme Court) followed the practice of the Board of Appeal of the European Patent Office (EPO) as it held that the singling out of single features from two separate lists of features and therefore the combination of these two specific features constitutes an extension of the subject-matter of the patent application leading to its nullity.
The funds, built on oil and gas revenues, will need strong governance principles underpinning them if they are to succeed.
In the recent case of Balfour Beatty Regional Construction Ltd (BB) v Van Elle Ltd, the question before the Technology and Construction Court (TCC) was whether the sub-contract superseded any prior contractual relationship between the parties, or whether the sub-contract was subject to Van Elle’s standard terms and conditions.
Oversee the creation and implementation of a digital strategy.
There is no doubt that as a consequence of the pandemic, the way we work and live has changed. Our attitudes, our priorities – they have all shifted slightly. They say the days of people working in the office are over, commentators speak of people moving west to work remotely, of hotels being repurposed, of the retail experience fundamentally changing. So yes, the world has changed, but the hard truth is that the pandemic cannot change the world retrospectively. Meaning, if you agreed to something in 2018 you cannot necessarily get out of the agreement because in 2020, the rug was pulled out from under all of us.
In December 2020, the Guernsey Financial Services Commission (Commission) published a consultation paper containing proposals to amend the rules in respect of Private Investment Fund (PIF) (the PIF Rules) to allow more investor categories to take advantage of an appropriately regulated fund structure.
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