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If you are a start-up or established business providing online intermediation services or offering a search engine for business and corporate website users in the European Union, then you might have to update your terms and conditions because of a new EU Regulation. The Regulation on promoting fairness and transparency for business users of online intermediation services, which enters into effect on 12 July 2020, applies to businesses both in and outside the EU. The Regulation sets out several obligations for service providers, including requirements with regard to the terms and conditions of the service provider.

Find out in our blog whether the Regulation applies to you and how you will have to change your terms and conditions.

New requirement for fund managers and other financial services providers: If you are a financial services provider under the Swiss Financial Services Act, even if you are only active on a cross-border basis, you must join an ombudsman office prior to 24 December 2020. This requirement also applies if you are marketing funds to Swiss investors on a cross-border basis.

Due to the declining number of new infections, the Federal Council has largely relaxed its measures. On 22 June 2020, the Federal Council repealed the COVID-19 Ordinance 2 which contained, among other things, obligations of employers with regards to the coronavirus.

The hype around initial coin offerings and new DLT-protocol launches has calmed down. The technology has proven its ability to revolutionise the financial market industry, but also other industries, by serving as an infrastructure where physical and digital assets or financial instruments can be tokenised in rivalrous cryptographic tokens and exchanged in a secure, cost-efficient and reliable manner. The next stage for DLT-technology to enter into full productivity is to have built the surrounding infrastructure, tools and service providers. Trading signals and copy trading are among such additional tools.

The new prospectus regime, including its exemptions, is also applicable to bonds and convertible bonds issued in Switzerland. But even if an exemption to publish a prospectus would apply, there are still some important specialities to be taken into consideration concerning bond offerings in Switzerland and in particular regarding convertible bonds.

The new prospectus regime, including its exemptions, is also applicable to bonds and convertible bonds issued in Switzerland. But even if an exemption to publish a prospectus would apply, there are still some important specialities to be taken into consideration in relation to bond offerings in Switzerland and in particular to convertible bonds.