Introduction
In Spring 2013 Swiss voters approved the ‘fat cat’ initiative by amending the Swiss Constitution (for further details please see “Voters say yes to ‘fat cat’ initiative”). The federal government has adopted the respective implementing ordinance, which became effective on January 1 2014. The new ordinance against excessive salaries clarifies many open questions for the around 240 Swiss companies listed on either a Swiss or foreign stock exchange. Several say-on-pay issues are left to the decisions of the shareholders meeting. The criminal penalties are more lenient than in the first draft.
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- ‘Fat cat’ initiative revisited – government implements ordinance Article
- Badertscher Attorneys at Law