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While using (and especially developing) AI applications in financial institutions may involve a significant administrative burden, this effort can be highly beneficial. Thorough preparation and documentation help build a robust risk management matrix and, most importantly, effective control mechanisms. A well-structured risk management framework is essential to ensuring the resilience and sustainable success of financial institutions.

Need for action for financial service providers

On September 1, 2023, Switzerland's new Data Protection Act (DPA) came into force, bringing with it some important changes. The change to the DPA affects practically every company or entrepreneur in Switzerland. Nevertheless, some companies in Switzerland have still not taken any steps. Immediate action is required for these companies! A violation of the DPA can have serious consequences, including criminal liability.

On September 1, 2023, Switzerland's new Data Protection Act (DPA) came into force, bringing with it some important changes.

In this blog post, we will explain why these changes are of great importance for companies in Switzerland and what steps they need to take immediately.

The Asset Management Association Switzerland (AMAS) published Circular 06/2023 "Best Practice on Environmentally Relevant Indicators for Real Estate Funds" ("Circular 06/2023") on September 11, 2023. Circular 06/2023 is part of AMAS's free self-regulation in the area of sustainability and is mandatory for AMAS members and other affiliated institutes.

From January 1, 2024, new rules regulating insurance brokerage will come into force in Switzerland. These changes are intended to improve customer protection and include stricter requirements for insurance brokers. We summarize the most important aspects of this new regulation below. If you have any questions about the implementation of the new obligations, Advoro will be happy to help you.

The Federal Council adopted the report for a sustainable financial centre on December 16, 2022. With 15 measures for the years 2022 to 2025, the Swiss financial centre is to further expand its position as one of the world's leading locations for sustainable finance.

Can you simply arrest someone? How long can an arrest last? What are my rights?

In a joint project, the federal government and the cantons have coordinated their legal bases in procurement law.

The regulation of redemptions and exceptions to the redemption obligation for collective investment schemes