Blockchain banking – guidance for Swiss banks
As the Swiss FinTech industry grows rapidly, uncertainty spreads across the traditional banking industry. Should Swiss banks do business with blockchain companies? On 20. September 2018, the Swiss Banker Association has published compliance related guidelines.
Consequences of the new Swiss Financial Institutions Act
The rules and provisions under the new Swiss Financial Institutions Act (FinIA) will have an impact on proprietary traders in securities as participants to trading venues. Entities that have so far not been subject to regulation will need to become licenced as investment firms.
ElCom introduces its version of REMIT
Switzerland has introduced its version of reporting obligations regarding electricity – but not gas (as with REMIT) - that relate directly to the obligations of Swiss domiciled entities under REMIT.
Whistleblowing to be regulated by law
Violations of the law and ethical misbehaviour damage companies, the economy and society. Employees as well as third parties should have the opportunity to report misconduct to suitable bodies within a company or to authorities without having to fear disadvantages or sanctions.