Baker McKenzie’s Sanctions Blog published the alert titled Switzerland implements eighth EU sanctions package and adds UK to certain carve-outs on 28 November 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
Baker McKenzie was invited to serve as the global editor of the Chambers Advertising & Marketing 2022 Practice Guide which features 8 high-profile jurisdictions and provides the latest legal information on the impact of the COVID-19 pandemic, advertising claims and clinical studies, comparative advertising, social/digital media, influencer campaigns, consumer promotions, sports betting/gambling, and cryptocurrency and non-fungible tokens.
In June 2020, the modernized Swiss company law (grosse Aktienrechtsrevision) was adopted after years of parliamentary discussion. The revision includes updated rules with respect to management compensation for listed companies. Furthermore, the Swiss Confederation adopted new rules on the disclosure of non-financial matters as well as minerals and metals from conflict areas and child labor.
After pressure from Parliament, the Swiss Federal Council has against its own intentions opened the consultation process on new legislation to screen foreign investments in future also in Switzerland and has published a draft investment control law (“Draft ICL”). By implementing foreign investment control mechanisms, Switzerland would follow the global trend towards stricter regulation of foreign investments. According to the Draft ICL, the new law would apply to acquisitions of domestic companies by foreign investors. The main objective is the aversion of possible threats to public order and national security resulting from acquisitions of domestic companies by foreign investors. The final aim is to create investment controls in a new and stand-alone federal law.
In August 2022, the Swiss Competition Commission launched an investigation against the multinational healthcare company Fresenius Kabi Group.
Switzerland is substantially revising and modernizing its insurance supervision laws, i.e., the federal law on the supervision of insurance carriers (Versicherungsaufsichtsgesetz) and the respective ordinance (Versicherungsaufsichtsverordnung). The new law is expected to come into effect on 1 July 2023 or 1 January 2024. It will introduce a new, risk-based supervision regime that allows for more tailor-made supervision.
This event will take place at the Zürich Marriott Hotel on 31 October 2022 from 1:30pm to 5:00pm. Please note that this event will be held in German only.