Draft Ordinance On Minder Initiative

Draft Ordinance on Minder Initiative: No groundbreaking rules; interesting clarifications. End of June, the Swiss Federal Council published its preliminary draft ordinance on the Minder Initiative («DO-Minder»). Overall, it presents a well-articulated draft reflecting the most important parameters of article 95 para. 3 of the Swiss Constitution (Minder Initiative). The DO-Minder does not blindly follow the wording of the Minder Initiative but also provides important deviations and clarifications, along with a few surprises. Swiss public companies should now start reviewing governance and compensation issues sensibly and in light of their particular needs and the flexibility provided under the DO-Minder framework.