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» Personal Loan No Credit Check, Online Economics » Economics (Switzerland) » Topics begins with S » Swiss code OF Best Practice


Page modified: Wednesday, July 13, 2011 03:17:58

The Swiss code OF Best Practice (short Swiss code) is a recommendation from the year 2002 of the restaurant roof federation of Switzerland, Economiesuisse, to all corporations concerning Corporate Governance, which are noted to the Swiss Exchange.

Since the Swiss code is not based contrary to the guidelines for permission to the Swiss Exchange on an appropriate law, the contained recommendations cannot be interspersed by legal sanctions. Since these have II however over Basel on the credit-worthiness of an enterprise influence, a "adjustment takes place via the market" - the credit market.

Contents

The "Swiss code" gives defaults particularly to the following ranges to board of directors and management:

  • Tasks of the board of directors
  • Composition
  • Function and presidency of the board of directors
  • Handling interest conflicts and knowledge projections/leads
  • Personnel unions and double seats
  • Internal control system
  • Committees of the board of directors
  • Special conditions

In the following is to be dealt with particulars of these points still more in greater detail

Tasks of the board of directors

Untransferable tasks are incumbent on the board of directors in accordance with obligation right.

  • Overhead line of the society definition of the enterprise strategy and arrangement of the measures necessary for the conversion
  • Definition the management totally or partly delegated, recommends the Swiss code that the majority of the reverse-feed members not in the management to be represented should.
  • Financial plan and - control-permanent adjusting of a sufficient looking further ahead liquidity plan.

Personnel unions and double seats

2005 gave some general assemblies, at which individual persons took a double mandate to talk. Most remarkably here the GV was von when Peter Brabeck should become both president of the VR and CEO. In particular the plant donation Ethos recommended to reject the choice.

The Swiss code recommends to the fact that the majority of the VR should not belong to the management, so that these are not degradiert by the knowledge projection/lead of the executives of reverse-feed members to Statisten. Besides appropriate control mechanisms are to be developed with the personnel union between reverse-feed president and CEO.

Committees of the board of directors

Individual tasks of the board of directors can be delegated by this into committees. The following committees were established:

  • Audit Committe - the internal revision
  • Nomination Committee - accomplishes preliminary investigations for the personnel composition of the VR. The Nomination of a new candidate to the GV must take place however via the entire VR.
  • Renumeration Committee - the remuneration of the reverse-feed members specifies. Legally however also the other reverse-feed members are jointly responsible, that do not belong to this committee.

See also

  • Corporate Governance
  • Basel II

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