Prinzipien des Finanzmarktrechts (Principles of Financial Market Law)

Published: 19 May 2014

Das Lehrbuch führt in die ökonomischen und soziologischen Theorien des Finanzmarkts ein und enthält eine systematische Darstellung des Finanzmarktrechts. Es legt das Schwergewicht nicht auf eine branchen-, sondern prinzipiengeleitete Darstellung nach Rechtsgebieten: Rahmenregulierung der Geld- und Währungspolitik, Aufsichtsrecht, regulierte Selbstregulierung, privatrechtliches Regulierungsrecht, Missbrauchsbekämpfung. Die Kapitel werden durch Repetitionsfragen, Fälle und eine umfassende Literaturübersicht ergänzt.

Das Werk eignet sich als Begleitmedium zum Unterricht wie zum Selbststudium und richtet sich an Studierende von Fachhochschulen und Universitäten, sowohl im Grundstudium als auch in der Weiterbildung.

422 Seiten, ISBN 978-3-7255-6992-2, Preis CHF 98, Schulthess Verlag, Zürich/Basel/Geneva 2014. In Deutsch.

Insights

Insights 27.07.2026

Retrocessions in “execution only” relationships: the Swiss Supreme Court confirms its landmark ruling and applies it to remunerations related to in-house structured products

Retrocessions in “execution only” relationships: the Swiss Supreme Court…

<p class="MsoBodyText">In its rulings 4A_501/2025 and 4A_503/2025 of 17 June 2026, the Swiss Supreme Court confirmed and applied the principles established in its recent landmark ruling of 12 January 2026: Banks are not required to return to their clients retrocessions (or other forms of financial kick-backs) received in connection with “execution only” relationships, absent a concrete risk of a conflict of interest (which is generally absent in “execution only” relationships). This decision is of particular relevance for in-house structured products. The flows of remuneration linked to structured products are indeed expected to continue to be a focus point of the Swiss financial regulator FINMA going forward (see the recent FINMA Communication 03/2026). This Legal Insight refers principally to ruling 4A_501/2025, the two decisions being materially similar.</p>

Insights 01.07.2026

Swiss sanctions and crypto assets services: When can providers refuse instructions?

Swiss sanctions and crypto assets services: When can providers refuse…

<p>In two decisions of 28 April 2026 (4A_535/2025 and 4A_537/2025), the Swiss Federal Supreme Court addressed the application of Switzerland's sanctions asset freeze regime to crypto assets held with a Swiss provider of crypto asset brokerage and custody services. The Court confirmed that, where concrete indications give rise to the suspicion that crypto assets may be owned or directly or indirectly controlled by a sanctioned person, the service provider may validly refuse to execute client instructions to release or transfer those assets.</p> <p>The decisions clarify the interaction between the service provider’s public-law obligations under the Swiss sanctions framework and its contractual duties towards the client. They also raise practical questions specific to the custody of digital assets, in particular where access to the assets depends on wallets, private keys or custody infrastructure.</p>

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