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On 15 December 2023, the Federal Council adopted a draft Investment Screening Act (the “D-ISA”). To date, Switzerland has no overarching regulation for the review of foreign investments as prevalent in other countries. The D-ISA intends to introduce sector-specific investment control in Switzerland to prevent takeovers of Swiss companies operating in critical sectors by foreign state-controlled investors (public or private investors that are directly or indirectly controlled by a state) if these takeovers endanger or threaten public order or security in Switzerland.

On 1 March 2024, the Swiss Federal Council published the dispatch on the taxation of teleworking in an international context. The new regulations serve as a national basis for the taxation of teleworking by cross-border commuters to ensure the implementation of the new international treaty regulations with France and Italy in Switzerland. These changes will affect the taxation of salaries of employees who are not resident in Switzerland for tax purposes but who work in Switzerland and are subject to an international supplement agreement regulating telework in a cross-border context.

When reports come in through whistleblowing channels or concerns about employee conduct otherwise arise, a recurring issue has been whether internal investigations must consider the principles of criminal procedural law. In a recent decision, the Federal Supreme Court held that this was not the case and confirmed a reasonable balance between the obligations of employers and the rights of employees provided for by Swiss law.

With the publication of a new guideline on green marketing, the Swiss Unfair Competition Commission has provided greater clarity in the assessment of the admissibility of marketing communications with environmental or climate-related content. In particular, the Guideline sets out clear rules on the requirements for admissible marketing communications with an environmental reference and the associated requirements for evidence. In a legal environment characterized by vague legal provisions and considerable discretion given to the competent authorities, this new Guideline provides important clarification.

The Federal Information Security Act (ISA), which only entered into force on 1 January 2024, is already being amended with an obligation to report cyberattacks for operators of critical infrastructures. On 18 January 2024, the deadline expired for challenging the amendment by way of a public referendum. This means that the amended version will become law, with the new obligation to report cyberattacks expected to come into force in 2025, although an exact date has not yet been set.

SIX Exchange Regulation has revised certain regulations concerning ad hoc and management transaction disclosures. The new rules will enter into force on 1 February 2024. The updated regulations include, as the only substantive change concerning listed equity securities, management reporting obligations relating to transactions by related persons, even in cases where there is no direct involvement of a manager or board member in the transaction. The remainder of the amendment concerns a more granular description of how to report management transactions to the issuer.

On 29 November 2023, the Swiss government enacted a new Ordinance on the Competition Law Treatment of Vertical Agreements in the Motor Vehicle Sector (referred to as the Motor Vehicle Ordinance). In December 2023, the Swiss Competition Commission (COMCO) released Explanatory Notes to accompany the new Ordinance. The new Ordinance and Explanatory Notes are scheduled to come into force on 1 January 2024, and are set to replace COMCO’s current Motor Vehicle Notice and Explanatory Notes.

On 9 November 2023, the Federal Data Protection and Information Commissioner issued a statement on AI-supported data processing. The Commissioner’s main message is that the Swiss Data Protection Law is formulated in a technology-neutral manner and is, therefore, also directly applicable to AI-supported data processing.

Pursuant to Law No. 83 of 13 June 2023 (which ratified the protocol signed in Rome on 23 December 2020 between Italy and Switzerland related to the income taxation of cross-border workers) the ministry of finance issued the decree of 23 July 2023, which removed Switzerland from the blacklist contained in the decree of 4 May 1999. The blacklist is aimed at tackling fictitious transfers of residence abroad by Italian citizens. The removal reflects a political agreement formalized on 20 April 2023 between the finance ministers of Italy and Switzerland and it will be effective from fiscal year 2024.

The revised Data Protection Act (nDPA) and the revised Data Protection Ordinance (nDPO) will enter into force on 1 September 2023. The revised Swiss data protection law is “a GDPR-like” legislation and provides for certain (new) obligations not contained in the current data protection law.
In an employment relationship, an employer inevitably processes employees’ personal data for various purposes. This client alert aims to inform employers about their data privacy obligations under the new data protection law and provides an opportunity to test data protection compliance.