10th DECEMBER 2015 // Renaissance Hotel, BRUSSELS (BE)
Daniel GLASNER Honorary Member of GSCGI and Independent Financial Advisor at ACTION FINANCE SA
Dispute resolution – the Swiss way
In Switzerland, mediation will become mandatory in disputes relating to asset management and financial advice as set by the new Financial Acts FinIA and FinSA that will come into effect on January 1st 2020.
Switzerland often successfully acts as Mediator in settlements of international conflicts. However, the use of out-of-court procedures is also encouraged for the resolution of civil law disputes between private parties. Priority is given to the peaceful settlement of disputes since the solutions found in transaction are more viable and cost efficient as they take into account all circumstances of the conflict and not only its legal and procedural sides.*
Albert Einstein was asked during WW2 where he would take refuge if a nuclear war started in Europe. He answered that he would go to Switzerland. “How come?” the journalist asked, as Switzerland is situated in the middle of Europe? Albert Einstein replied: because everything takes 50 years to arrive to Switzerland.
Albert Einstein would be surprised today to learn that it took less than 10 years for the Swiss federal legislator to enforce mandatory Mediation for its financial sector. Indeed...
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