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Banking & Financial Services

19 January 2021
Stephan Schmalzl Eye-catching decision on advertising of consumer loans

Austria - Schima Mayer Starlinger

The Supreme Court recently had to decide whether ads for consumer loans which stated a monthly rate in the main text and a debit interest rate "from... % p.a." depending on creditworthiness, together with an example in the footnote text, complied with the Consumer Credit Act. The court held that the requirement that certain information be presented in a clear, concise and prominent way is not met with a combination of an attractive monthly rate in the main text and the other standard information in small print.

Author: Stephan Schmalzl
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Reto Luthiger New licensing requirement for investment managers

Switzerland - Meyerlustenberger Lachenal

The Financial Institutions Act came into force on 1 January 2020. It is crucial that the top management bodies of independent and external investment managers which manage the portfolios of individuals recognise whether a licensing obligation exists and whether appropriate measures must be initiated, as they are responsible for compliance with and the implementation of licensing obligations.

Authors: Reto Luthiger, Lukas Lezzi
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Recent updates

Alexander Vogel New DLT law is just around the corner

Switzerland - Meyerlustenberger Lachenal

Authors: Alexander Vogel, Reto Luthiger
Gautam Ganjawala Ministry of Corporate Affairs makes much-needed amendments to NCD deposit requirement

India - AZB & Partners

Authors: Gautam Ganjawala, Karthik Mudaliar
Funmilayo Otsemobor Stamp duty reform under Finance Act: market update on impact of cross-border transactions

Nigeria - Aluko & Oyebode

Author: Funmilayo Otsemobor
Bradley Kruger Registration of virtual asset service providers commenced on 31 October 2020

Cayman Islands - Ogier

Authors: Bradley Kruger, Michael Robinson
Bernardo Freitas Equity crowdfunding: alternative method of fundraising during COVID-19 pandemic

Brazil - Freitas Ferraz Advogados

Authors: Bernardo Freitas, Isabela Ardaya
Bruce MacNeil Enforcement under Security Interests (Jersey) Law 2012

Jersey - Ogier

Author: Bruce MacNeil