The Modification of the Provision on International Administrative Assistance in the Federal Law on Stock Markets and Securities Dealing

On 1 February 2006 the revision of article 38 of the Federal Law on Stock Markets and Securities Dealing ("LBVM") came into effect. This law, which concerns international administrative assistance, was modified so as considerably to facilitate the administrative assistance that Switzerland can grant to other states in the framework of the application of regulations on stock markets and securities dealing. In particular, in its new wording, the law to a large extent eliminates what is known as the "long arm principle".