Legal in Tax and Legal blog
- Select a blog category
Revised Swiss Data Protection Law: Missed 1st September deadline? Set your company on the compliance path
As of September 1st, 2023, the entry into force of the revised Swiss Data Protection Act (hereafter “nFADP”), requires Swiss companies to immediately be compliant and strengthen data protection obligations.
If you suspect your business is behind on its data protection compliance responsibilities, rest assured, it is not (yet!) too late. Whether your company is a beginner when it comes to data protection or already has a solid foundation in place, this high-level roadmap will help you conduct your business in compliance with the nFADP. In addition, if you would like to know more about the main changes introduced by the nFADP, please check our latest article on this subject.
The events in the last few years have had significant and lasting impacts on business in general and restructuring in particular, with the latter referring to the various options available for firms experiencing difficulties. European economies, hit by both the upheavals caused by the health crisis and geopolitical tensions, have also been affected by the various support policies adopted by governments.
Adobe Acrobat Sign is a document cloud solution that helps organisations deliver end-to-end digital document experiences with trusted, legal electronic signatures. Deloitte is a strategic global Alliance Partner to Adobe, with over 25 years of experience working with Adobe as a customer, supplier and partner, and a long history of collaboration on product strategy and direction.
Deloitte Legal and Adobe have formed a strategic alliance to support clients in the roll-out and adoption of Adobe Acrobat Sign – both locally and globally. Adobe provides the technology and strategic implementation for clients and Deloitte Legal can help you develop an internal environment that is ready and able to adopt e-signature solutions, and provide technology to give structured advice on valid and enforceable electronic signature methods, for both single and multi-jurisdictional arrangements.
Corruption sanctions are the new political weapon of the EU to thwart kleptocratic behaviour and illicit money flows globally. The continuing trend towards values-based sanctions, such as corruption sanctions, shows a strong inclination on the part of like-minded governments to pursue an interconnected due diligence approach. Ursula von der Leyen, President of the European Commission, announced that the EC will prioritise defending European values abroad by introducing corruption sanctions. This calls for European companies, including Swiss ones, to ensure that their Sanctioned Party List (SPL) screening and Business Partner Due Diligence (BPDD) set-ups are up to date, interdisciplinary, complete, and reliable. Companies may have to rethink their country risk ratings.
Sanctions are more than just a trend and sanction compliance is now a new reality for Swiss businesses. While authorities and businesses in the US and the EU have gained experience on these topics over the last decades, the Swiss market has only recently started adapting to the ever-changing geo-political and sanction landscape.
During its autumn 2020 session the Swiss Parliament adopted the new Act on Federal Data Protection (hereafter "nFADP"). It represents a complete overhaul of data protection legislation, necessary because there has been significant technological change in recent decades. It was also necessary to align with European legislation.
The nFADP and its ordinances (Ordinance on Data protection (hereafter "OPDo") and Data Protection Certifications (hereafter "OCPD")), will come into force on 1st September 2023 and will replace the current FADP of 1992.
From 1 May 2021, bearer shares (with just some exceptions) will be automatically converted into registered shares by the Federal Office of Commercial Register unless the companies have already converted on a voluntary basis their bearer shares and thus modified their articles of association by this date. In addition, holders of bearer shares must inform the company about their bearer shares by the end of April 2021 if they have not already done so. After this date, shareholders will have to apply to the court to have their shares registered.
The short-time working compensation scheme has so far been an important response to the negative consequences of the COVID-19 pandemic. The Federal Council has taken various measures to ensure that as many companies and employees as possible benefit from short-time working compensation, for example by extending the scheme to additional categories of employees. The measures have now partly been changed again with a few new rules applying as from 1 April 2021. In this blog, we give an overview of what the current rules are and how these will change in the future (status: 1 April 2021).
Real estate transactions in Switzerland by UK nationals are subject to new conditions which are in force as of 1st March 2021 with retroactive effect from 1st January 2021. Knowledge of the legal protection of the acquired rights and particularities of the applicable framework are crucial to plan residential real estate investments.
The COVID-19 pandemic has forced governments to take measures to minimise the spread of the disease and its social and economic impacts.
Home working has been recommended or enforced and employers have had to implement remote working solutions often without the necessary policies already in place. Drastic changes have taken place in work patterns as employees have got used to working fully or partially from home.