// Financial Law Update
Distribution fees and retrocessions / Decision of the Zurich High Court of January 13, 2012
The High Court of the Canton of Zurich ruled that asset managers are obliged to pass-on to their clients distribution fees received from providers of investment funds or structured products based on respective placement agreements if such fees are paid on the basis of the volume of units placed with the asset manager’s clients and if the clients did not validly waive their entitlements to such retrocessions. The bank adjudged to pass-on the retrocessions to its asset management client appealed to the Federal Supreme Court.
To read the full article in German, please click here.
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.
New Proposal for Swiss Corporate Tax Reform
The Steering Committee representing the cantons and Swiss Federation issued its recommendation regarding the implementation of a modified corporate tax reform to the Swiss Federal Council on June 1, 2017. The corporate tax reform has been renamed the Tax Proposal (“T.P. 17”) and is, in general, based on the Corporate Tax Reform III (“C.T.R. III”), which was rejected on February 12, 2017, by Swiss voters.