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Federal Act On Banks And Savings Banks
The Swiss Banking Act or Federal Act on Banks and Savings Banks is a Swiss federal law and act-of-parliament that operates as the supreme law governing banking in Switzerland. Although the federal law has only been amended seven times, it has been revised multiple times to limit and expand its banking secrecy provisions since its ratification. The banking secrecy provisions in the Federal Act are additionally enforced through multiple civil codes in the federal Swiss Civil Code and locally through cantonal law. In December 2017, the Swiss parliament launched a standing initiative and expressed an interest in formally embedding banking secrecy within the Swiss Federal Constitution rendering it a federally-protected constitutional right. The law was passed by the Federal Assembly of the Swiss Confederation on February 2, 1934, through the power of the constitution's 34th and 64th articles. It was put into force on March 1, 1935. The federal law is best known for Article 4 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Assembly Of Switzerland
Federal or foederal (archaic) may refer to: Politics General *Federal monarchy, a federation of monarchies *Federation, or ''Federal state'' (federal system), a type of government characterized by both a central (federal) government and states or regional governments that are partially self-governing; a union of states * Federal republic, a federation which is a republic *Federalism, a political philosophy * Federalist, a political belief or member of a political grouping * Federalization, implementation of federalism Particular governments *Government of Argentina * Government of Australia * Federal government of Brazil *Government of Canada * Cabinet of Germany * Federal government of Iraq *Government of India * Federal government of Mexico * Federal government of Nigeria *Government of Pakistan * Government of the Philippines *Government of Russia * Government of South Africa *Federal government of the United States **United States federal law **United States federal courts *Fe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Criminal Court Of Switzerland
The Federal Criminal Court, (; ; ; ) is a Swiss federal court. Since its inception in 2004, it has been located in Bellinzona. Legal basis Article 191a para. 1 of the '' Swiss Constitution'' of 18 April 1999, (SC; SR lassified Compilation of Federal Legislationno. 101) states: ''The Confederation shall appoint a criminal court, which shall hear at first instance criminal cases that by law come under federal jurisdiction. The law may confer further powers on the Federal Criminal Court.'' The ''Federal Act on the Organization of the Federal Criminal Authorities'' (SR no. 173.71) governs status, organization, jurisdiction and the applicable procedural law. Furthermore, its internal ''Organizational Regulations'' of 31 August 2010, (SR no. 173.713.161) provides for the rules applicable to the Federal Criminal Court's organization and administration. Jurisdiction The Federal Criminal Court's Criminal Chamber renders decisions on indictments for crimes that by law come unde ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inheritance Tax
International tax law distinguishes between an estate tax and an inheritance tax. An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate (money and property) of a person who has died. However, this distinction is not always observed; for example, the UK's "inheritance tax" is a tax on the assets of the deceased, and strictly speaking is therefore an estate tax. Inheritance taxes vary widely between countries. History There was a steep increase in the number of countries that implemented inheritance taxes throughout the 19th and early 20th century. From 1960 onwards, inheritance taxes declined in prevalence as numerous countries repealed theirs. For historical reasons, the term "death duty" is still used colloquially (though not legally) in the UK and some Commonwealth countries. The estate tax in the United States is sometimes referred as "death tax". Other taxation applied to inherita ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Timeline Of The 20th Century
This is a timeline of the 20th century. 1900s 1901 * January 1: The Australian colonies federate. * January 22: Edward VII became King of England and India after Queen Victoria's death. * March 2: The Platt Amendment provides for Cuban independence in exchange for the withdrawal of American troops. * June: Emily Hobhouse reports on the poor conditions in 45 British internment camps for Boer women and children in South Africa. * September 6: The assassination of William McKinley ushered in office Vice President Theodore Roosevelt after McKinley's death on September 14. * September 7: The Eight-Nation Alliance defeats the Boxer Rebellion, and imposes heavy financial penalties on China. * December 10: First Nobel Prizes awarded. * December 12: Guglielmo Marconi received the first transatlantic radio signal. 1902 * January 13: The Unification of Saudi Arabia begins. * May 20: Cuba given independence by the United States. * May 31: Second Boer War ends in British victory. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Municipal Offense
In Wisconsin, a municipal offense or ordinance offense or civil offense or noncriminal offense or municipal infraction or infraction is the infringement of a city ordinance. A municipal offense is not a crime In ordinary language, a crime is an unlawful act punishable by a State (polity), state or other authority. The term ''crime'' does not, in modern criminal law, have any simple and universally accepted definition,Farmer, Lindsay: "Crime, definiti .... As of 1989, the Montana Code provided that: :7-1-4150. Municipal infractions — civil offense. (1) A municipal infraction is a civil offense punishable by a civil penalty of not more than $300 for each violation or if the infraction is a repeat offense, a civil penalty not to exceed $500 for each repeat violation. :(2) A municipality may by ordinance provide that a violation of an ordinance is a municipal infraction. :(3) (a) A municipality may by ordinance provide that a criminal offense under state law that is puni ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Credit Suisse
Credit Suisse Group AG (, ) was a global Investment banking, investment bank and financial services firm founded and based in Switzerland. According to UBS, eventually Credit Suisse was to be fully integrated into UBS. While the integration was yet to be completed, both banks are operating separately. However, on May 31, 2024, it was announced that Credit Suisse ceased to exist. Headquartered in Zürich, as a standalone firm, it maintained offices in all major financial centres around the world and provided services in investment banking, private banking, asset management, and shared services. It was known for strict Bank secrecy, bank–client confidentiality and Banking in Switzerland, banking secrecy. The Financial Stability Board considered it to be a Systemically important financial institution, global systemically important bank. Credit Suisse was also a primary dealer and Forex counterparty of the Federal Reserve in the United States. Credit Suisse was founded in 185 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Underground Economy
A black market is a clandestine market or series of transactions that has some aspect of illegality, or is not compliant with an institutional set of rules. If the rule defines the set of goods and services whose production and distribution are prohibited or restricted by law, non-compliance with the rule constitutes a black-market trade since the transaction itself is illegal. Such transactions include the illegal drug trade, prostitution (where prohibited), illegal currency transactions, and human trafficking. Participants try to hide their illegal behavior from the government or regulatory authority. Cash is the preferred medium of exchange in illegal transactions, since cash transactions are less easily traced. Common motives for operating in black markets are to trade contraband, avoid taxes and regulations, or evade price controls or rationing. Typically, the totality of such activity is referred to with the definite article, e.g., "''the'' black market in bush meat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Laundering
Money laundering is the process of illegally concealing the origin of money obtained from illicit activities (often known as dirty money) such as drug trafficking, sex work, terrorism, corruption, and embezzlement, and converting the funds into a seemingly legitimate source, usually through a front organization. Money laundering is illegal; the acts generating the money almost always are themselves criminal in some way (for if not, the money would not need to be laundered). As financial crime has become more complex and financial intelligence is more important in combating international crime and terrorism, money laundering has become a prominent political, economic, and legal debate. Most countries implement some anti-money-laundering measures. In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by government and international regulators such as the US Office of the Comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Culture Of Switzerland
Switzerland lies at the crossroads of several major European cultures. Three of the continent's major languages, German, French and Italian, are national languages of Switzerland, along with Romansh, spoken by a small minority. Therefore, Swiss culture is characterized by diversity, which is reflected in a wide range of traditional customs. The 26 cantons also account for the large cultural diversity. Not withstanding the regional disparities, the Alps have played an essential role in shaping the history and culture of Switzerland. The region of the Gotthard Pass became the nucleus of the Swiss Confederacy in the early 14th century. Nowadays, all mountain areas of Switzerland have a strong skiing and mountaineering culture and are associated with folk arts such as the alphorn and yodeling. Other Swiss cultural icons include Swiss chocolate, Swiss cheese, watches, cowbells, banking, and the Swiss Army knives. Folk arts Folk art is kept alive in organizations all ov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Numbered Bank Account
Numbered bank accounts are bank accounts wherein the identity of the holder is replaced with a multi-digit number known only to the client and selected private bankers. Although these accounts do add another layer of banking secrecy, they are not completely anonymous as the name of the client is still recorded by the bank and is subject to limited, warranted disclosure. During the 1910s, bankers from Switzerland created numbered bank accounts to add a layer of anonymity for European clients seeking to avoid paying World War I taxes. With the passage of the Swiss Banking Law of 1934, this practice proliferated across the banking industry in Switzerland. Some Swiss banks supplement the number with a code name such as "Cardinal", "Octopussy" or "Cello" as an alternative manner to identify the client. However, to open this type of account in Switzerland, clients must pass a multi-stage clearance procedure and prove to the bank the lawful origins of their assets. Banking institutions ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banking In Switzerland
Banking in Switzerland dates to the early 18th century through Switzerland's merchant trade and over the centuries has grown into a complex and regulated international industry. Banking is seen as very Culture of Switzerland, emblematic of Switzerland and the country has been one of the largest, if not largest, Offshore financial centre, offshore financial centers and tax havens in the world since the mid-20th century, with a long history of banking secrecy, security and client confidentiality reaching back to the early 1700s. Starting as a way to protect wealthy European banking interests, Swiss banking secrecy was codified in 1934 with the passage of a landmark federal law, the Federal Act on Banks and Savings Banks. These laws were used to protect assets of persons being persecuted by Nazi authorities but have also been used by people and institutions seeking to Tax evasion, illegally evade taxes, hide assets, or to commit other financial crime. Controversial protection of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lists Of Landmark Court Decisions
Landmark court decisions, in present-day common law legal systems, establish precedents that determine a significant new legal principle or concept, or otherwise substantially affect the interpretation of existing law. "Leading case" is commonly used in the United Kingdom and other Commonwealth jurisdictions instead of "landmark case", as used in the United States. In Commonwealth countries, a reported decision is said to be a ''leading decision'' when it has come to be generally regarded as settling the law of the question involved. In 1914, Canadian jurist Augustus Henry Frazer Lefroy said "a 'leading case' sone that settles the law upon some important point". A leading decision may settle the law in more than one way. It may do so by: * Distinguishing a new principle that refines a prior principle, thus departing from prior practice without violating the rule of '' stare decisis''; * Establishing a "test" (that is, a measurable standard that can be applied by courts in futu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
