SWI GVT Covid Second Wave Support
On Nov. 18, SWI GVT proposed adjusting measures for second wave.
- Federal Council has proposed adjustments to Covid support measures for second wave.
- Dispatch to parliament amending COVID-19 Joint and Several Guarantee Act, COVID-19 Act, hardship (art. 12), sport (art. 13/new 12b) unemployment insurance (art. 17).
- Follows SWI GVT Aug. 2020, extra funds for Covid economic recovery, see #84013.
- Hardship Cases
- Total support from Confederation and cantons increase to CHF 1 billion.; Confederation would bear around two thirds of the costs incurred, and the cantons one third.
- Regulated in ordinance, due for approval next Federal Council meeting, in force Dec. 1.
- Support cantons by relaxing enforcement and simplifying access to company data.
- Short-time Working Compensation
- Emergency law unemployment insurance-related measures transfer to COVID-19 Act.
- Proposes an extension for fixed-term employment and grace period to be abolished.
- Professional/semi-professional clubs to receive non-repayable contributions and loans.
- Compensate up to two thirds lost ticket sales revenue, based on 2018/2019 season.
- In return, clubs must meet strict requirements, e.g. permanently reducing top salaries.
- Other Proposals
- Federal Council discussed reactivating Covid credit program/create new loan program.
- Fixed Penalties Act change to COVID-19 Act, Minor infringements of the Epidemics Act (EpidA), not wearing facemask would be punishable under fixed penalty procedure.
- Federal Council submitting bill to Parliament requesting urgent winter session debate.
- On Nov. 18, 2020, SWI PRL issued WAK-N hardship ordinance comments, see #91161.
||B/D; Bank; CNSM; Corp; Fiduciary; Inv Co
||PR 11/18/2020; COVID-19
||Compliance; Financial; Operations; Reporting; Risk; Suitability; Tax; Treasury
||Banking; Corporate; Fund Mgt; Loan; Securities
|Reg. Last Update
Last substantive update on 11/20/2020