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Simplified reporting requirements in the transparency register for listed or institutional shareholders
When a shareholders’ agreement constitutes acting in concert for the transparency register
What Swiss Startups Need to Know About Their Reporting Obligations to the Transparency Register
Transparency Register: Must Companies with Intermediated Securities and OTC-X Trading Report Their Beneficial Owners?
Notification Obligations under the LETA: What Shareholders, Members and Beneficial Owners Need to Know Now
Transparency Act and Transparency Register: What Swiss SMEs Need to Know
The New Obligations of Swiss Companies under the Transparency Act
Which Legal Entities Are Subject to Reporting Obligations under the Legal Entity Transparency Act (LETA)?
Frequently asked questions
Who within the company is responsible for determining beneficial ownership and carrying out the verification with the required due care?
The most senior member of the governing body. That person may delegate the task but remains responsible for the proper filing of the report (Art. 12 LETA).
What happens if a shareholder does not cooperate in determining the beneficial ownership?
The company documents the steps it has taken (Art. 8 para. 2 LETA) and states in the report that the verification was unsuccessful (Art. 9 para. 3 LETA, Art. 21 LETO). An intentional breach of the cooperation and reporting obligations may result in a fine of up to CHF 500,000 for the shareholder concerned (Art. 43 let. a LETA).
Is a copy of an identity document always required?
The company must establish whether the person concerned has an OASI number. Only if that is not the case must it obtain a copy of the passport, identity card or foreign national identity card (Art. 10 para. 2 LETO).
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