B-04-29 FINMA Guidance 05/2021

When several clients are harmed in the same case of fraud, an important question arises in insurance: is this a single claim or several claims? In its ruling 4A_626/2024 of 21 March 2025, the Federal Court answered in the affirmative. It upheld an arbitration award that denied a bank any insurance coverage on the grounds that each claim by an aggrieved customer had to be considered a separate claim, subject in particular to a separate deductible. The ruling highlights the[...]

In its judgment ACJC/141/2025 of 28 January 2025, the Geneva Court of Justice ruled that a bank's communication of its new pricing conditions in accordance with its general terms and conditions, which provided for tacit acceptance, validly derogated from special conditions agreed with the customer on fees, in the absence of timely opposition by the latter. An appeal against this ruling has been lodged with the Federal Court. At the beginning of 2019, a client opened an account with a[...]

In its press release of 21 March 2025, the Federal Council reported on the results of the consultation procedure on the partial revision of the regulations on non-financial reporting and due diligence obligations for companies, which ended in October 2024. The Federal Council reaffirms its commitment to bringing Swiss law into line with international standards. However, in view of recent legislative developments in the EU, Swiss companies will have to wait before they know what will happen to the draft[...]

Was FINMA, and subsequently the Federal Administrative Court, right to refuse dividend payments by an insurance company in connection with the approval of a liquidation plan and a modified business plan on the grounds that the company had failed to comply with its obligation to cooperate with the supervisory authority? This is the question that the Federal Supreme Court had to answer in a ruling handed down on 18 February (2C_94/2024). The case in question concerns an insurance company that[...]