A-01-13

Since the adoption of the too-big-to-fail regime in 2011, article 52 BL stipulates that the Federal Council must examine the provisions of articles 7 to 14b BL three years after the system comes into force and then every two years, compare them with the corresponding international standards abroad and report back to the Federal Assembly, if necessary with proposals for amendments to the law or ordinances. In its report on systemically important banks of 4 June 2021 (FF 2021 1487),[...]

The right of access under the DPA is abused when a person invokes it against a family office to obtain information concerning a trust and the financial situation of his father (ACJC/1610/2023). A very wealthy Italian businessman has a family office in Geneva, which performs various services for his daughter. Payments to her were made from the father's account. The father tells the family office that his daughter has a budget limit of EUR 100,000 per month. The daughter receives[...]

The Financial Stability Board (FSB) welcomes Switzerland's progress in implementing the Too Big To Fail (TBTF) rules, but stresses that there is still work to be done. Its second peer review report of 29 February 2024 covers the period 2022-2023 and targets systemically important banks (SIBs) operating internationally. The FSB's ten recommendations can be summarised as follows: Increase FINMA's resources quantitatively and qualitatively: in addition to increasing the size of its teams, the FSB recommends a strengthening of expertise to[...]

On January 31, 2024, the Federal Council published the long-awaited preliminary draft of the revision of administrative criminal law. The consultation procedure will run until May 10, 2024. For the record, administrative criminal law is criminal law, with the distinctive feature that the prosecution and adjudication of offences fall within the remit of a federal administrative authority, which varies according to the field concerned (e.g. the Federal Department of Finance for administrative criminal law offences against financial market laws) (cf.[...]