Insights

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The Structured Products Law Review - Switzerland (Edition 2)

The turnover of structured products issued or distributed by major financial institutions negotiated on the national and international markets amounts to 82 billion Swiss francs, and there are currently around 12,000 structured products in Switzerland tradable at SIX Swiss Exchange...
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Fight Against Money Laundering And Terrorist Financing In Switzerland: The Latest Legislative Changes

Switzerland attaches great importance to the integrity of its financial centre. At the international level, Switzerland is committed to the development of standards to combat money laundering and terrorist financing and ensures their systematic implementation at the national level...
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Why Ethics Is Key To Reputation Managemenet

Online reputation management is significantly important, given that majority of the world spend a good amount of time on the internet these days. Word of mouth and recommendations are simply not enough anymore, so companies need to manage their reputation online to have a positive representation of their brand...
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The Introduction Of The Regulatory Sandbox By The Malta Financial Services Authority

The Malta Financial Services Authority (“MFSA”) introduced the FinTech sandbox as a platform for sddm, FinTech operators to test the innovation for a specified period of time within the financial services sector under certain prescribed conditions...
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Cyber Mobs And The Need Of A Contingency Plan

Cyber mobbing and bullying are often a by-product of political propaganda and fabricated conglomerate tug of war to create noise in the internet. This tactic is used to confuse the common readers with a flood of unverified information...
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Google's Right To Be Forgotten

At the end of January 2012, the European Commissioner for Justice, Fundamental Rights, and Citizenship, Viviane Reding, announced the European Commission’s proposal to create a sweeping new privacy right—the “right to be forgotten.” In Europe, the intellectual roots of the right to be forgotten can be found in French law...
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Instagram: Les Publications Sponsorisées Et La Publicité Déguisée

Instagram est une application permettant le partage de photos et de vidéos. Instagram compte plus d’un milliard d’utilisateurs actifs chaque mois. Aujourd’hui, de plus en plus de sociétés font appel aux services d’influenceurs afin de promouvoir leurs produits ou leurs services sur les réseaux sociaux...
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The Risk Of Fraudulent Investments In Switzerland

In Switzerland, no financial transaction is completely risk-free. It is always possible to come across unauthorized and fraudulent financial intermediaries in the financial market who deceive investors in order to enrich themselves at their expense...
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Structuring A Special Purpose Vehicle

A Special Purpose Vehicle (“SPV”) is separate legal entity or a subsidiary created by a company for strategic reasons which include joint ventures, asset securitization, tax optimisation or to isolate financial and operational risks – where in the case the parent company goes bust, the SPV can keep operating.
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Be Ready For Brexit

After a controversial referendum held in 2016, the British citizens voted for leaving the European Union (the “EU”). In the following months and years, the government of the United Kingdom (“UK”) activated the procedures requested by article 50 of the Treaty on the Functioning of the European Union in order to leave the EU...
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Key changes Of EUS Fifth Anti Money Laundering Directive

The Fifth Anti-Money Laundering Directive (Directive (EU) 2018/843) (the “Directive”) has been adopted and entered into force on 9 July 2018. The rules set out in the Directive are not directly applicable to the Member States, but are to be transposed into national law...
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Incentives Introduced In UAE: COVID-19

On 4 April 2020, the UAE Central Bank rolled out a stimulus package amounting to approximately AED 256 billion meant to assist lenders in alleviating financial pressure on their customers...
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Documentation Retention Obligations Under Swiss Anti-Money Laundering And Data Protection Legislation

Money laundering is the concealment of the origin of funds coming from criminal activities in such a way as to make it impossible to trace their origins and to inject said funds into the normal legal circuits of the economy...
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The Challenges Of Automated Individual Decision-Making And Profiling's Regulation

Data protection is an area of law that is evolving rapidly. In the European Union (“EU”), the General Data Protection Regulation (EU) 2016/679 (“GDPR”) was implemented on 25 May 2018. Switzerland is currently in the process of revising its Federal Act on Data Protection (“FADP”)...
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Force Majeure In The Uae: Legal And Practical Measures

After the World Health Organization ("WHO") declared COVID-19 to be a pandemic, measures have been put in place across the globe for individuals and organisations in order to reduce the risk of transmission of the virus...
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Force Majeure Under Maltese Law: The Legal Consequences Of Covid-19

On 11 March 2020, the World Health Organisation (the “WHO”) declared the coronavirus disease or Covid-19 a pandemic, further urging countries to take drastic measures to contain the spread of the virus...
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Coronavirus (Covid-19) And Force Majeure Under Swiss Law

As the Coronavirus (Covid-19) epidemic continues to spread in Europe, the Federal Council has decided to classify the situation as an extraordinary situation according to the Federal Act of 28 September 2012 on the control of transmissible diseases in Humans (Epidemics Act, LEp), which implies that employers are required to take additional protective measures and develop a pandemic plan...
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Federal Act On Electronic Identification Services

The current widespread use of the Internet and extensive availability of high-performance mobile devices have resulted in an increasingly easier dematerialisation of transactions. This socio-economic change is promoted by modern Internet users...
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Dubai: Registering A DIFC Will

Having a will in place is an extremely important step of your financial planning process. It provides certainty over your assets and is an essential part of your estate planning. Owning assets in the UAE further extenuates the importance of having a will in place, especially for expats...
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Intellectual Property – The Skykick Case

The European Union (the “EU”), among other purposes, aims to create a common market for intellectual property (“IP”). However, when problems arise, the European Court of Justice (the “ECJ”) is the court entitled to clarify the conformity of national law to EU laws and principles. Its rulings are binding on all the Member States of the EU...
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The Structured Products Law Review - Switzerland

OVERVIEW The turnover of structured products issued or distributed by major financial institutions negotiated on the national and international markets amounts to 82 billion Swiss francs, and there are currently around 12,000 structured products in Switzerland tradable at SIX Swiss Exchange...
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Marketing Foreign Collective Investment Funds in UAE, Saudi Arabia and Bahrain

Collective Investment Funds ("CIF") are groups of pooled accounts held by a bank and Collective Investment Trusts (another way of calling CIFs) are groups of pooled accounts held by a trust. Asset managers or other forms of financial institutions pool together and group a variety of assets from individuals and companies to create a unified portfolio. Unlike mutual funds or exchange-traded funds, CIFs are unregulated, unregistered investment vehicles and closer in kind to hedge funds.
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Marketing Foreign Special Purpose Vehicles In The UAE, KSA & Bahrain

A Special Purpose Vehicle (“SPV”) is a separate legal entity or a subsidiary created by a company for strategic reasons which include joint ventures, asset securitization, tax optimisation or to isolate financial and operational risks – wherein the case the parent company goes bust, the SPV can keep operating. We will compare five jurisdictions based in the Middle East for setting up SPVs.
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Fintech Regulation In Switzerland

FinTech is moving rapidly and is attracting growing regulatory responses. The list of regulatory responses to FinTech-related risks continues to lengthen. This will ratchet up over the coming years as the FinTech sector and the adoption of FinTech solutions continue to develop and grow, and as the associated risks evolve...
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Limited Qualified Investor Fund (L-QIF)

In June 2019, the Federal Council opened a consultation on the amendment of the Collective Investment Schemes Act of 23 June 2006 (“CISA”) to introduce a new fund category...
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Cookie Storage – CJEU Confirms The Requirement For An Active Consent

The Court of Justice of the European Union (the ‘CJEU’) has recently delivered an important judgement on the storage of cookies and the requirement of active consent from internet users. It sets an important legal precedent in the ePrivacy area...
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AI And IP: No Man’s Landscape?

Technology is evolving at an incredible pace. An ordinary smartphone has thousands of time the power of calculation of the computer that allowed the Apollo 11 to land on the moon. We are living the edge of a new era and, among other things, like quantum computer and gene editing...
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E-Sports And Gaming In Malta

Malta’s economic sector has been booming with the government exploring innovative ideas to promote the country as a hub for digital innovation. A major sector in Malta is the gaming sector, with numerous companies choosing Malta to operate from due to favourable tax incentives...
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MIFID I II And MIFIR – A More Transparent Financial Market

The markets in financial instruments directive (“MiFID”) increases the transparency across the European Union’s financial markets and standardises the regulatory disclosures required for particular markets. MiFID has been applicable within the European Union since November 2007...
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Data And Consumer Protection In Online Sales

Online sales have expanded drastically over the last decade. In Switzerland, it is estimated that 90% of regular internet users have shopped online at least once. In light of this societal evolution, governments and legislators have needed to adapt and legislate. The European Union has adopted specific legislation, whereas the Swiss legal framework...
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Establishing An Investment Fund In Malta – Comparison Chart

The Investment Services Act , Chapter 370 of the laws of Malta (the “Act”) provides for a legal framework which regulates investment funds and services in Malta. Through the introduction of the Act, fund managers in Malta have been given the opportunity to choose from various corporate structures to cater for their different investment strategies...
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Lump Sum Taxation Vs Circular 44 Of The Federal Tax Authority: What Are The Consequences?

On 28 September 2012, the Swiss Parliament adopted the Federal Lump Sum Taxation Act (“Lump Sum Act”), which modifies some provisions of (i) the Federal Income Tax Act (“LIFD”) and (ii) the Federal Act on the Harmonisation of Direct Cantonal and Municipal Taxes (“LHID”)...
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An Electronic Money Institution Comparison – Malta Vs. Luxembourg

An Electronic Money Institution (“EMI”) ‘is a financial institution that has been licensed in accordance with the Financial Institutions Act, Chapter 376 of the Laws of Malta (the “FIA”) and authorised to issue electronic money or that holds an equivalent authorisation in another country in terms of Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up...
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Brexit: The UK’s Withdrawal From The EU And Its Implications

On 23 June 2016, after 43 years of being in the European Union (the “EU”), the United Kingdom (the “UK”) decided to officially withdraw its membership from the EU. A referendum was held within the UK whereby a vote was taken by every person or nearly every person of a voting age. 51.9% voted in favour of leaving the EU whereas 48.1% voted against leaving the EU...
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The Mandatory Public Takeover And Exemptions Under Swiss Law

The concept of a mandatory public takeover for a Swiss listed company is necessary in order to ensure that minority shareholders’ interests are duly and adequately protected. In this respect, a balance of interests must be established between the interests of the minority shareholders and the company itself...
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The EU Succession Regulation – Cross-Border Successions Made Simpler

Regulation (EU) No. 650/2012 of 4 July 2012 on jurisdiction, applicable law, recognition and enforcement of decisions and acceptance and enforcement of authentic instruments in matters of succession and on the creation of a European Certificate of Succession (the “Regulation”) makes cross-border inheritance simpler by clarifying which EU country’s courts will have jurisdiction to deal with the inheritance...
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