January 2011

On 1 January 2011, the revised Convention on Jurisdiction and the Enforcement of Judgments in Civil and Commercial Matters (the “Revised Lugano Convention”, “RevLC”) signed by the European Community, Denmark, Iceland, Norway and Switzerland in Lugano on 30 October 2007, has entered into effect in Switzerland. Among several substantial changes, the Revised Lugano Convention notably extends the scope of its provisions in matters of consumer contracts. These new rules are likely to be of particular practical relevance for Swiss financial institutions. This newsletter summarizes the relevant amendments to the Revised Lugano Convention and outlines their most significant implications for Swiss financial institutions.