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Switzerland: Draft Investment Screening Act

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Draft law for the introduction of foreign investment control in Switzerland

In brief

On 15 December 2023, the Federal Council adopted a draft Investment Screening Act (the “D-ISA“). To date, Switzerland has no overarching regulation for the review of foreign investments as prevalent in other countries. The D-ISA intends to introduce sector-specific investment control in Switzerland to prevent takeovers of Swiss companies operating in critical sectors by foreign state-controlled investors (public or private investors that are directly or indirectly controlled by a state) if these takeovers endanger or threaten public order or security in Switzerland. The D-ISA will go into parliamentary deliberation, during which it may be accepted, rejected or amended. The D-ISA is not yet in force and is not expected to enter into force before 2025.

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Roger Thomi is a counsel in the Antitrust & Competition Practice Group and in the Commercial Practice Group in Zurich. He has extensive experience in his area of expertise and focuses on all aspects of competition law and commercial law, particularly distribution law and product regulatory compliance. The Legal 500 ranked Roger as a “Rising Star" in competition law who is "highly qualified," "pro-active" and "delivering high-quality and practical advice within a short time."

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Philippe Reich is a partner of Baker McKenzie Switzerland based in Zurich. He serves as head of the Firm's Antitrust, European and International Trade Practice Group in Switzerland. Philippe is a key member of the Firm's International Trade & Commerce and Antitrust & Competition Law Practice Groups. Philippe is regularly ranked as leader in his field in Who's Who Legal and is a recommended practitioner in Legal 500 and Chambers. In 2022, he was ranked among the top 100 foreign lawyers for India related matters. Philippe is also the European representative on the steering committee of Baker McKenzie's Global India Practice, chairman of the Swiss-Indian Chamber of Commerce and forms the India Desk of Baker McKenzie in Switzerland.

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Boris Wenger is a partner in Baker McKenzie's Zurich office, where he advises on competition law, public procurement, healthcare, export control, customs and energy law matters. Chambers Europe and Legal 500 have ranked Mr. Wenger as a leader in the field of competition and antitrust for many years.

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