New Criminal and Civil Provisions for Violation of Transparency Provisions in Corporate Law

Oct 22, 2019 | News

Two new provisions of the Swiss Criminal Code (SCC) enter into force on November 1, 2019.

Article 327 SCC:

Intentional violation of the obligation to disclose the beneficial owner of shares or partnership interests is punishable by a fine.
This applies both to the omission of the announcement and to the announcement of false information.
Article 327a SCC:

Anyone who intentionally violates the corporate law obligations to keep the following lists is punishable by a fine:
In the case of a limited company (SA): the share register or the list of beneficial owners of shares;
In the case of a limited liability company (Sagl): the book of partners or the list of beneficial owners of partnership interests;
In the case of a cooperative society: the list of members.

Link:

https://www.sif.admin.ch/sif/it/home/dokumentation/fachinformationen/anleitungen_glo