Legal Update November 2023

In its November 2023 Legal Update, OBERSON ABELS SA summarizes a ruling by the Zurich Handelsgericht that marks a new episode in the long-running saga of retrocessions. In this ruling, the Handelsgericht confirms the application of the Federal Court’s case law on retrocessions to an “execution only” relationship. It also reviews the substantive content of the bank’s General Terms and Conditions, basing itself in particular on article 8 of the Federal Act against Unfair Competition.

Legal Udpate is available on request in English and French at news@obersonabels.com.