This book provides a comprehensive overview of Swiss financial market legislation and supervision, presenting the main market and regulatory actors. The book describes the market organization, financial products, market participants, cross-sector rules (such as AML and financial markets insolvency regulation), as well as the financial market supervision and enforcement in Switzerland. International aspects and the increasing influence of international standards and regulation are addressed. The text is based on the German version of November 2012, which was updated in May 2013. (Series: Swiss Law in a Nutshell)
International financial relations have become increasingly important for the development of global and national economies. At present these relations are primarily governed by market forces, with little regulatory interference at the international level. In the light of numerous financial crises, this abstinence must be seriously questioned. Starting with an analysis of the regulatory problems at the international level, with only minimal powers entrusted to international organisations, this book develops various possibilities for reform. On the basis of an historical analysis, the book first adopts a comparative approach to national attempts to regulate international financial markets, then outlines the potential of relevant institutions and finally develops a policy perspective. It seeks to provide a framework for analysing options for the regulation of international financial markets from a public international law and comparative law perspective.
A timely guide to the complex financial markets and banking secrecy of Switzerland Since 1934, when Switzerland's federal bank secrecy law was passed, the line between myth and reality with regard to Swiss banking has been blurred. But over the past decade, there have been dramatic changes in the pressures brought to bear on all facets of the Swiss financial markets and banking sector. Recent developments and agreements have potentially weakened Swiss banking secrecy, and with that said, it is time for a book that lays out the history of Swiss bank secrecy and puts these twenty-first century changes in perspective. Swiss Finance is a thorough overview of the Swiss financial markets and the banking secrecy this country has become known for. It covers key topics to practitioners both abroad and in the United States involved in Swiss banking and the Swiss financial markets. Discusses what the Euro-debt crisis may mean for the role of Switzerland as a financial powerhouse Reveals how new secrecy agreements with the United States and Germany will impact private wealth management Addresses Asian competition for wealth management and tax havens Switzerland is one of the largest financial markets in the world and a global power in private wealth administration. Whether you're a private wealth advisor, Swiss or U.S. banker, or other finance practitioner involved in the Swiss market, this guide is essential reading if you intend on achieving future success in this arena.
This tribute to Professor Detlev Vagts of the Harvard Law School brings together his colleagues at Harvard and the American Society of International Law, as well as academics, judges and practitioners, many of them his former students. Their essays span the entire spectrum of modern transnational law: international law in general; transnational economic law; and transnational lawyering and dispute resolution. The contributors evaluate established fields of transnational law, such as the protection of property and investment, and explore new areas of law which are in the process of detaching themselves from the nation-state such as global administrative law and the regulation of cross-border lawyering. The implications of decentralised norm-making, the proliferation of dispute settlement mechanisms and the rising backlash against global legal interdependence in the form of demands for preserving state legal autonomy are also examined.
This "Liber Amicorum" is published at the occasion of Judge Lucius Caflisch's retirement from a distinguished teaching career at the Graduate Institute of International Studies of Geneva, where he served as Professor of International Law for more than three decades, and where he has also held the position of Director. It was written by his colleagues and friends, from the European Court of Human Rights, from universities all around the world, from the Swiss Foreign Affairs Ministry and many other national and international institutions. The "Liber Amicorum Lucius Caflisch" covers different fields in which Judge Caflisch has excelled in his various capacities, as scholar, representative of Switzerland in international conferences, legal adviser of the Swiss Foreign Affairs Ministry, counsel, registrar, arbitrator and judge. This collective work is divided into three main sections. The first section examines questions concerning human rights and international humanitarian law. The second section is devoted to the international law of spaces, including matters regarding the law of the sea, international waterways, Antarctica, and boundary and territorial issues. The third section addresses issues related to the peaceful settlement of disputes, both generally and with regard to any particular means of settlement. The contributions are in both English and French.
Corporate boards play a central role in corporate governance and are thus regulated in the corporate law and corporate governance codes of all industrialized countries. Yet while there is a common core of rules on the boards considerable differences remain. These differences depend partly on shareholder structure, partly on historical, political and social developments and especially employee representation on the board. More recently, in particular with the rise of the international corporate governance code movement, there is a clear tendency towards convergence, at least in terms of the formal provisions of the codes. This book analyses the corporate boards, their regulation in law and codes and their actual functioning in ten European countries (Belgium, France, Germany, Italy, the Netherlands, Poland, Spain, Sweden, Switzerland and the United Kingdom). It offers the most up to date practical and analytical information on boards in Europe by leading company law experts. The issues addressed include: board structure, composition and functioning (one tier v. two tier, independent directors, expertise and diversity, separating the chair and the CEO functions, information streams, committees, voting and employee representation); enforcement by liability rules (in particular conflicts of interest), incentive structures (remuneration) and shareholder activism.
This book focuses on the relationship between FDI and financial service liberalization in the context of the WTO. By conducting an economic assessment on the extent of GATS liberalization in commercial banking it seeks to empirically clarify if the multilateral liberalization efforts under the WTO promote FDI.