// Financial Law Update
FinSA / FinIA – Dispatch Adopted
On November 4, 2015 the Federal Council adopted the dispatch on the Financial Services Act (FinSA) and the Financial Institutions Act (FinIA). The major objective of this legislative project is to align the Swiss regulatory framework with European rules, most notably MiFID II, in order to secure market access for Swiss financial institutions. FinSA / FinIA will heavily impact the Swiss financial services industry. We provide a first overview.
NFTs in Metaverse: Do Trademark Owners need to register their Trademarks for Virtual Goods and Services?
“Nike Sold an NFT Sneaker for USD 134’000”: This York Times headline of May 26, 2022 and similar headlines regarding virtual goods in Metaverses or NFT Trade Platforms have made us realize that NFTs are not only for digital art but also a huge market for brand products.
Recognition of foreign family foundations in Switzerland
Swiss Family Foundations are not commonly used for asset protection or estate planning purposes due to a de facto prohibition of family maintenance foundation. Since families are often spread over different countries and continents and assets are located in various jurisdictions, contributions of assets to a foundation may very well be an optimal solution, also because these assets no longer fall within the scope of the estate. For this purpose, foundations are set up in jurisdictions like Liechtenstein.