Who, the bank or the clients, should bear the damage due to the execution of orders from hackers? Shortly after the ATF 146 III 326 (cf. cdbf.ch/1150/), in which the Federal Court denied a serious fault of a trading company, the Ticino Court of Appeal is confronted with the same problem. Contrary to the decision Continue Reading
Under what conditions does a complaint clause take effect? In a decision dated 1st December 2020, the Geneva Court of Justice examined this issue in the light of a case in which the client had delayed in contesting transactions allegedly carried out without instruction.  Decision (French) Article (French)Continue Reading
The Federal Department of Finance (FDF) requests that the Federal Council bring into force as early as 1 February 2021 the limitation on the ombudsman affiliation requirement decided by Parliament within the framework of the DLT Act. On 25 September 2020, Parliament adopted the Federal Act on the Adaptation of Continue Reading
A growing and efficient market in financial services depends, amongst other things, on consumer confidence. Developing consumer confidence requires effective: prudential regulation, to ensure that financial businesses are financially sound and run by fit-and proper people; conduct of business regulation, or Continue Reading
When the client and his asset manager agree on an investment strategy, can the client complain afterwards that his risk profile was wrongly established? In a decision dated October 23, 2020, the Federal Court answers this question in the negative. In summary, a client entrusts the management of her assets to an Continue Reading