Switzerland revises transparency obligations – Part 2: Swiss parliament introduces criminal fines for violations

On 21 June 2019, the Swiss Parliament passed a law implementing the recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes, which included amendments to the Swiss Code of Obligations (revCO), the Swiss Criminal Code and other legislation (including tax laws). In part one of our analysis, we discussed the abolishment of bearer shares in Swiss corporate law and its impact on Swiss entities and their shareholders. In this part two, we focus on other corporate law aspects of the revCO and address the related criminal sanctions introduced in the Swiss Criminal Code. To read the complete article, please follow this link.