{"id":30960,"date":"2024-09-18T11:53:03","date_gmt":"2024-09-18T10:53:03","guid":{"rendered":"https:\/\/www.fbt-avocats.ch\/?p=30960"},"modified":"2025-11-18T12:04:23","modified_gmt":"2025-11-18T11:04:23","slug":"retrocessions-in-advisory-and-execution-only-relationships-the-rules-are-becoming-clearer","status":"publish","type":"post","link":"https:\/\/staging.fbt-avocats.ch\/en\/retrocessions-in-advisory-and-execution-only-relationships-the-rules-are-becoming-clearer\/","title":{"rendered":"Retrocessions in advisory and execution-only relationships: the rules are becoming clearer"},"content":{"rendered":"\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2etm70-18119d64f2fb4dae83c6c7ce50a97b7b\">\n.flex_column.av-2etm70-18119d64f2fb4dae83c6c7ce50a97b7b{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-2etm70-18119d64f2fb4dae83c6c7ce50a97b7b av_one_full  avia-builder-el-0  avia-builder-el-no-sibling  first flex_column_div av-zero-column-padding  '     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-mi4gtbxa-da798d6793e0b354c32fe1ff18e5d2b5\">\n#top .av-special-heading.av-mi4gtbxa-da798d6793e0b354c32fe1ff18e5d2b5{\npadding-bottom:10px;\nfont-size:26px;\n}\nbody .av-special-heading.av-mi4gtbxa-da798d6793e0b354c32fe1ff18e5d2b5 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n#top #wrap_all .av-special-heading.av-mi4gtbxa-da798d6793e0b354c32fe1ff18e5d2b5 .av-special-heading-tag{\nfont-size:26px;\n}\n.av-special-heading.av-mi4gtbxa-da798d6793e0b354c32fe1ff18e5d2b5 .av-subheading{\nfont-size:15px;\n}\n\n@media only screen and (min-width: 480px) and (max-width: 767px){ \n#top #wrap_all .av-special-heading.av-mi4gtbxa-da798d6793e0b354c32fe1ff18e5d2b5 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n\n@media only screen and (max-width: 479px){ \n#top #wrap_all .av-special-heading.av-mi4gtbxa-da798d6793e0b354c32fe1ff18e5d2b5 .av-special-heading-tag{\nfont-size:0.8em;\n}\n}\n<\/style>\n<div  class='av-special-heading av-mi4gtbxa-da798d6793e0b354c32fe1ff18e5d2b5 av-special-heading-h1 blockquote modern-quote  avia-builder-el-1  el_before_av_textblock  avia-builder-el-first  av-inherit-size'><h1 class='av-special-heading-tag '  itemprop=\"headline\"  >Retrocessions in advisory and execution-only relationships: the rules are becoming clearer<\/h1><div class='av-subheading av-subheading_below'><p>September 2024<br \/>\nFr\u00e9d\u00e9rique Bensahel<\/p>\n<\/div><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-jnbvyq3d-c7f69aaf0105aaab2cdd6aefc764e89e '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><p>Our times, and consequently our legislators, attach great importance to managing conflicts of interest. Transparency obligations are implemented to make conflicts of interest visible. The legislator starts from the idea that a disclosed conflict of interest can be managed. These transparency obligations have been introduced in a wide range of fields. For example, members of boards of directors must disclose their conflicts of interest to the board (Art.717a of the Code of Obligations); members of the Swiss parliament must disclose their interests in full (Art. 11 of the Federal Parliament Act).<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-jnbvy448-af61e942265cee5c52b6bd275e002429\">\n#top .hr.hr-invisible.av-jnbvy448-af61e942265cee5c52b6bd275e002429{\nheight:20px;\n}\n<\/style>\n<div  class='hr av-jnbvy448-af61e942265cee5c52b6bd275e002429 hr-invisible  avia-builder-el-3  el_after_av_textblock  el_before_av_button '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<div  class='avia-button-wrap av-jnbw0rxe-c3994ef22d779fe5a3a7b3d22cf3e773-wrap avia-button-left  avia-builder-el-4  el_after_av_hr  avia-builder-el-last '>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-jnbw0rxe-c3994ef22d779fe5a3a7b3d22cf3e773\">\n#top #wrap_all .avia-button.av-jnbw0rxe-c3994ef22d779fe5a3a7b3d22cf3e773{\nbackground-color:#44525f;\nborder-color:#44525f;\ncolor:#ffffff;\ntransition:all 0.4s ease-in-out;\n}\n#top #wrap_all .avia-button.av-jnbw0rxe-c3994ef22d779fe5a3a7b3d22cf3e773 .avia-svg-icon svg:first-child{\nfill:#ffffff;\nstroke:#ffffff;\n}\n<\/style>\n<a href='https:\/\/staging.fbt-avocats.ch\/wp-content\/uploads\/2025\/11\/Verband-Schweizerischer-Vermogensverwalter_-0924_FBT-ENG-1.pdf'  class='avia-button av-jnbw0rxe-c3994ef22d779fe5a3a7b3d22cf3e773 av-link-btn avia-icon_select-no avia-size-large avia-position-left'   aria-label=\"Read more\"><span class='avia_iconbox_title' >Read more<\/span><\/a><\/div><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":26,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[84],"tags":[749],"datespeciale":[],"class_list":["post-30960","post","type-post","status-publish","format-standard","hentry","category-media-and-news","tag-asg-en","competences-banking-and-finance","auteurs-frederique-bensahel-en","date-publication-2024-en","diffusion-groupe-bancaire-en","diffusion-medias-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Retrocessions in advisory and execution-only relationships: the rules are becoming clearer | FBT Avocats SA<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta 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