Law - Swissholdings EN

Amendment of the Cartel Act: Partial Revision

On May 24, 2023, the Federal Council adopted the dispatch on the partial revision of the Cartel Act (23.047). The partial revision aims, in particular, to modernize Swiss merger control and align it with international standards. In addition, the revision seeks to strengthen civil antitrust law and make the objection procedure more practicable. In this context, the Federal Council has instructed the Federal Department of Economic Affairs, Education and Research (EAER) to submit a proposal for institutional reform in the first quarter of 2024. The Council of States completed its deliberations on the Partial Revision of the Cartel Act in the second quarter of 2024. The National Council’s Economic Affairs and Taxation Committee (WAK-N) has discussed the partial revision in several meetings since October 2024. The final vote on the bill is expected to take place in spring 2025. SwissHoldings expressly welcomes the fact that the long-requested institutional reform is now part of the revision.

Amendment of the Cartel Act: Institutional reform

As part of the revision of the Cartel Act, the reform of the competition authorities will be addressed in a separate procedure, as requested by various parties during the consultation process. This approach is intended to ensure that the revision of the Cartel Act does not fail once again due to obstacles. The EAER, which was entrusted with this task by the Federal Council, prepared more specific implementation proposals for the reform on March 15, 2024. Based on the final report of the Expert Commission, the Federal Council has instructed the EAER to submit a consultation draft by mid-2025.

Draft Register of Beneficial Owners

The bill for a federal law on the transparency of legal entities aims to further strengthen the integrity of Switzerland as a financial and business hub. Measures are to be introduced, including the creation of a Federal Register of Beneficial Owners and other targeted steps to make the fight against money laundering and white-collar crime more effective. The proposed measures should also comply with the international standards set by the Financial Action Task Force and the Global Forum on Transparency and Exchange of Information for Tax Purposes.

Revision of the Financial Market Infrastructure Act (FMIA)

According to a report by the FDF, the Financial Market Infrastructure Act (FMIA) has largely proven its worth to date. The Federal Council is conducting a periodic and general review of the Act. In particular, transparency and legal certainty in certain regulatory areas are to be strengthened. The consultation on this was opened on June 19 and lasted until October 11, 2024.

Company Law

Capital Market Law

Compliance

Competition Law and Competition Policy

Data protection

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Contact

Dr. Gabriel Rumo

Director and Law

+41 79 712 20 20
gabriel.rumo@swissholdings.ch

Felix Küng

Legal Manager

+41 31 356 68 64
felix.kueng@swissholdings.ch .ch

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