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 designation of eight new Freeports within England made headlines in the Budget and now the winning bidders have to put into effect their successful proposals. What will this mean in practice for those areas affected and what are the likely issues that Freeport authorities will face?
The BVI is an increasingly popular arbitral seat supported by a modern pro-arbitration legal framework, modern arbitration facilities, and a world-class arbitration institution of its own in the form of the BVI International Arbitration Centre (“BVIIAC”). The ready availability of BVI legal expertise for any such arbitration under the supervision of the well-respected BVI Courts provides added comfort for parties seeking a dispute resolution venue in a stable jurisdiction.
The significant shift in people’s travel routines over the last 12 months will likely trigger long-term changes for many and our urban spaces will need to continue to develop into ‘smart cities’. Electric vehicles and their charging points will form a significant part of this changing landscape.
Against the backdrop of differing economies, laws and regulations throughout Asia, choosing to incorporate Cayman entities into holding and investment structures allows international stakeholders to co-operate under the aegis of a stable and effective judicial system. Appeals from the Grand Court of the Cayman Islands lie with the Cayman Islands Court of Appeal, comprising judges who have held high judicial office in the Commonwealth. The Judicial Committee of the Privy Council is the final Appellate Court for the Cayman Islands. As such, through its Court system, Cayman is able to provide the investment community with impartial, established and highly regarded judicial resources dedicated to resolving complex commercial disputes.
Two of the most prominent arbitral institutions globally, the London Court of International Arbitration and the International Chamber of Commerce, have recently updated their rules to modernise and streamline the way in which arbitrations are administered. The changes are designed to increase efficiency, flexibility and transparency and to embrace the growing use of technology in business today.
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