B-04-47 FINMA Guidance 06/2024

The growing interest in cryptoassets has been accompanied in Switzerland by the rapid development of services for the custody of these assets. Against this backdrop, on 12 January 2026 FINMA published its Supervisory Notice 01/2026 on the custody of cryptoassets. It sets out the legal basis governing their custody and withdrawal in the event of the custodian's bankruptcy, while highlighting the risks associated with certain configurations, particularly when foreign sub-custodians are used. This communication addresses four topics: (i) the custody[...]

The Federal Supreme Court has upheld a ruling by the Geneva Court of Appeal dismissing a liability claim against a bank for mismanagement on the grounds that the allegations were insufficient (ruling 4A_276/2024 of 31 March 2025). The client had held a bank account with the bank in question since the 1960s. In 1995, she inherited EUR 3 million and entered into a management agreement with the bank. At that time, the client's portfolio consisted solely of bonds and cash.[...]

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[...]

On February 19, 2025, the Federal Council sent the message to Parliament concerning the project to extend the automatic international exchange of information in tax matters (AIE) to crypto-assets (the Message) by adopting a framework for the declaration of crypto-assets (CDA). In addition to the CDC, the Message proposes additions and amendments to the law (P-LEAR) and the ordinance (P-OEAR) on the automatic exchange of information. The new rules are expected to come into force on January 1, 2026, for[...]