A unique opportunity to become a responsible business role model
With the narrow rejection of the Swiss Responsible Business Initiative (RBI), Swiss companies will have the challenge of aligning with stricter, EU-inspired standards in terms of corporate disclosure and sectoral human rights due diligence. In this blog post we explain how you can take the reins and become best in class – and why the current reporting cycle is a good time to start.
Partial entry into force of the Swiss DLT-act
On 1 February 2021, the parts of the Swiss DLT-act that introduce ledger-based securities (i.e. register uncertificated securities) to Swiss law have entered into force. The remaining provisions of the DLT-act will enter into force on 1 August 2021.
The E-ID Act from a data protection perspective
On 7 March, the E-ID Act will be put to the vote in Switzerland. Especially in the area of data protection, opponents and supporters disagree on the extent to which the introduction of the law would cause problems.
Aspects of employment law in connection with the introduction of paternity leave
On 27 September 2020, the Swiss electorate voted with a clear majority to introduce two weeks of paternity leave which will enter into force on 1 January 2021. This has resulted in adjustments to the employment law provisions in the Code of Obligations (CO).
PwC Legal's Regulatory Radar – challenging the regulatory tsunami
Are you struggling to keep up with constant regulatory changes? Would you like to learn about a tool to challenge this regulatory tsunami? If so, please continue reading to discover how PwC’s Regulatory Radar can help you track all regulatory initiatives and remain on the road to success.
New draft of the ePrivacy regulation: one last chance?
The German EU Council Presidency has published a new draft of the ePrivacy regulation which is intended to supplement the European GDPR. The latest version of the draft provides substantial changes on the rules on electronic communications and digital marketing.
Data protection gets a makeover: a worldwide overview
Since the entry into force of the European General Data Protection Regulation (GDPR) more than two years ago, the global data protection landscape has been changing. As a result, many international data protection laws have been newly adopted, modified or become effective.
European Data Protection Board issues recommendations on Schrems II
After the landmark ruling "Schrems II", the European Data Protection Board (EDPB) published its recommendations on data transfers to third countries in November 2020. These recommendations will be key for Swiss companies.
Time to act: Maintaining data flows to the UK
Brexit brings with it many uncertainties, especially in the area of data protection. Therewith, it is still questionable whether the level of data protection in the UK will be considered equivalent by the EU after the UK's final withdrawal from the European Union. A non-recognition would result in serious consequences for Swiss companies. Therefore, we highlight the main preparatory measures organisations in Switzerland should focus on in order to prepare for 31 December 2020.
FINMA opens consultation on transparency obligations for climate risks
Investors and policymakers want greater transparency and comparability regarding climate risks in the banking and insurance sector. If not properly assessed, evaluated and monitored, climate risks are the new drivers of value decrease.
FINMA adopts regulation implementing FINSA and FINIA
The Swiss Financial Market Supervisory Authority (“FINMA”) has adopted its regulation implementing FINSA and FINIA. This encompasses a new implementing ordinance to FINIA, as well as changes to FINMA ordinances and circulars that need to be adjusted as a result of the implementation of FINSA and FINIA.
First court case affected by Schrems II – further legal uncertainty ahead
For the first time in Europe, a case relating to the "Schrems II" judgment was brought before a higher court, namely the Conseil d’ État (French Supreme Administrative Court). Remarkably, the French data protection authority originally had a different view on the case compared to that of the court itself. This creates legal uncertainty across Europe about the scope of the Schrems II judgement.
1 From 8