In this LexCast, we will be talking about LegalTech and its impact on Swiss firms and in particular Swiss law firms. LegalTech is currently rising all over the world and increasingly enters the traditional legal market. With its Focus Area "AI and Digitalisation" Froriep has already delved into the field of digitalisation and now takes a closer look at LegalTech during this LexCast.
Wirecard has proven once again that stellar growth and stunning revenues do not always mean that a company is well-founded. Although the board of directors has responsibilities towards the shareholders and the latter have certain information rights, organisational failure and mismanagement often remain unnoticed until it's too late. Additional corporate governance laying down the fundamentals on management and organisation is therefore vital for long-term success, to ensure that the checks and balances among the stakeholders involved (shareholders, founders, and employees) are appropriate.
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 Swiss Financial Market Supervisory Authority FINMA (FINMA) published a supplementary guideline to the ICO guidelines February 16, 2019, where FINMA outlines on how it treats so-called ‘stable coins’ under Swiss financial market law. In addition, FINMA provides an indication on how it will apply the financial market laws to Libra, the crypto project initiated by Facebook.
In this episode Cornelia Mattig of FRORIEP (host) is discussing together with Ozan Polat and Benedikt Schuppli of Dezentrum as well as Ronald Kogens of FRORIEP's DLT (Blockchain) & Fintech practice group the current legal challenges as well as liability and responsibility questions in relation to decentralised systems and projects.