Employment in Financial Services
Contributing Editor
In a rapidly evolving regulatory landscape, employers in the financial services sector must ensure they are fully compliant with local employment rules and procedures. Helping to mitigate risk, IEL’s guide provides clear answers to the key issues facing employers in the sector
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01. What is the primary regulatory regime applicable to financial services employees in your jurisdiction?
01. What is the primary regulatory regime applicable to financial services employees in your jurisdiction?
Brazil
Brazil
- at Tortoro Madureira & Ragazzi Advogados
- at Tortoro Madureira & Ragazzi Advogados
- at Tortoro Madureira & Ragazzi Advogados
- at Tortoro Madureira & Ragazzi Advogados
The main regulatory regime applicable to financial services employees is the Brazilian Labour Code (CLT). However, several rules created from collective bargaining have been formalised in the Collective Labour Contract. That contract established additional standards with a validity period determined by the contract.
Switzerland
Switzerland
- at Walder Wyss
- at Walder Wyss
- at Walder Wyss
Employment law in Switzerland is based mainly on the following sources, set out in order of priority:
- the Federal Constitution;
- Cantonal Constitutions;
- public law, particularly the Federal Act on Work in Industry, Crafts and Commerce (the Labour Act) and five ordinances issued under this Act regulating work, and health and safety conditions;
- civil law, particularly the Swiss Code of Obligations (CO);
- collective bargaining agreements, if applicable;
- individual employment agreements; and
- usage, custom, doctrine, and case law.
Depending on the regulatory status of the employer and the specific activities of financial services employees, respectively, Swiss financial market laws may also apply. They are, in particular, the Federal banking, financial institutions and insurance supervision regulations.