ABSTRACT
The Swiss Banking Law of 1934 focused largely on creditor protection and the control of capital exports.1 More extensive interventions in the market, such as banking supervision and regulations in the field of mergers and acquisitions, were only considered marginally or not at all. While the Banking Law enshrined (and still enshrines) a number of provisions that may also apply to mergers and acquisitions, this domain has not been specially regulated so far.2 Thus, for example, the banks are legally obliged to submit any changes affecting either their business purpose, sphere of activity, equity capital or internal organization to the supervisory authority for approval. A further point that may also be relevant for mergers and acquisitions concerns the final cancellation of a bank in the register of commerce. This may only ensue after the call for the registration of debts and also requires the approval of the supervisory authorities.
