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Modernization of Company Law

Switzerland Forthcoming 2015

There are two provisions related to transparency & non-financial disclosure related to gender/transparency and extractive industries payments to foreign governments.

Issuer name

Federal Office of Justice

More information

In 2016 full draft was published and submitted to parliament. " 1) If companies don’t reach a target of 30% gender balance in the company’s boards, they have to provide in their annual remuneration report an explanation for non-compliance and describe the actions taken and planned to comply with this target 2) Companies in the extractives sector need to disclose payments made to government agencies in a separate report to be disclosed electronically." Parliamentary discussion of this draft will still take time, it is not expected to enter into force until 2018 the earliest. The first Commission (actually: "Rechtskommission des Nationalrats"), then the whole first Chamber ("Nationalrat"), then the Commission of the second Chamber ("Rechtskommission des Ständerats") and finally the whole second Chamber ("Ständerat"). Expect more activity from government in 2019. Reviewed 2/01/2019

Organizations covered by the instrument

Large private and listed companies

Target organization notes

This applies to all “SA” (Societes Anonymes), which are publicly traded companies (often listed companies but not always). Reviewed 24/07/2017

Industry scope

All/none specified

Status

Forthcoming

Country

Switzerland

Region

Europe

Date of publication

2015

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

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