Finder's Fees, Commissions and Similar Arrangements

The book gives a systematic overview of finder's fees, commissions and similar arrangements. The author discusses the legal aspects of the various legal relationships (particularly, contract law, unfair competition, regulatory, tax and antitrust aspects). In discussing the relevant disclosure obligations and obligations to deliver up commissions, the author critically analyzes, among others, the recent judgment of the Swiss Federal Tribunal SFT 132 III 460 of 22 March 2006 dealing with the obligation of independent asset managers to deliver up commissions to customers under the relevant provisions of the law on mandate. This judgment has a substantial impact on the finance industry and has given rise to much discussion. The author also outlines potential measures for risk management and examines the issue of commissions in other fields such as multistage securities and foreign exchange trading, in the context of collective investment schemes and in the insurance industry. Existing regulation of commissions, for example, in legislation on pharmaceutical products or with respect to asset management under the pension fund legislation, is also covered.