4.2 Non-Compliance with Reporting and Due Diligence Obligations
Intentional non-compliance with the reporting obligations can result in fines of up to CHF 100,000 (negligence is subject to fines of up to CHF 50,000, pursuant to Art. 325ter of the Swiss Criminal Code). Non-compliance with the due diligence obligations is not subject to penalties under criminal law. There are no new statutory provisions for civil liability. There is also no indication that the legislature intended to introduce special duties of care to enable individuals to bring claims for damages in tort in the event of non-compliance with the due diligence obligations and specific reporting obligations. In particular, the duties of care pursuant to Art. 964k CO or the policies established under Art. 964b CO cannot be used as a protective norm in the case of a pecuniary loss or the violation of absolute legal interests through omission.