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mediation – ADR Alternative Dispute Resolution

Dispute prevention, Conflict management and resolution

mediation

In Switzerland, mediation will become mandatory in disputes relating to Asset Management and Financial Advice as set by the new Financial Acts FinIA and FinSA that will come into effect on January 1st 2020.

What’s new?

Switzerland often successfully acts as Mediator in settlements of international conflicts. However, the use of out-of-court procedures is also encouraged for the resolution of civil law disputes between private parties. Priority is given to the peaceful settlement of disputes since the solutions found in a negotiated transaction are more viable and cost efficient as they take into account all circumstances of the conflict and not only its legal and procedural sides.

A unique opportunity

The legislator demands that any Mediator selected to be on the list of the Mediation Organism must possess not only an accreditation as a Mediator, but also a high level of professional expertise in money management and financial matters.

According to the definition of the Mediation Directives of the Swiss Bar Association adopted in 2005, mediation is an out-of-court procedure of dispute resolution where one or several independent and impartial third parties (mediators) help the parties to a conflict to settle it peacefully through negotiations.

Mediation is and will remain a voluntary process

The Swiss Rules of Mediation adopted by SCAI (the Swiss Chambers of Commerce and Industry) in April 2007 and revised in July 2019 define mediation as an alternative method of dispute resolution whereby two or more parties ask a neutral third party, the mediator, to assist them in settling a dispute or in avoiding future conflicts.

Compared to the 2007 Swiss Mediation Rules, the revised Swiss Rules of Mediation provides 4 main features:

  • A simplified procedure for designation of a mediator in certain types of cases, art. 5;
  • Provision of a Certificate of Mediation, art. 16(5);
  • Certification and authentication of Settlement Agreements, arts. 17(2) and 17(3); and
  • Creation of an Advisory Council for Mediation art. 24(4).

“Mediation is a method of dispute resolution whereby the parties attempt to reach an amicable settlement of their dispute or avoid future conflicts with the assistance of a neutral third party, the mediator.  The mediator facilitates the exchange of information and perspectives between the parties and encourages them to explore solutions that meet their needs and interests. Unless required by the parties, the mediator refrains from offering his or her own views (as would an expert), or from making proposals (as would a conciliator).” and unlike an arbitrator, he or she does not render an award.

Therefore mediation is conducted in order to help the parties to choose their own solution acceptable for all of them and avoiding a solution imposed from the outside, as mediators help the parties to restore a constructive dialog.

The basic principles applicable to mediation are: (1) voluntary participation in the procedure and the possibility to discontinue it at any time; (2) neutrality and independence of the mediator; (3) qualification of the mediator and (4) confidentiality of the procedure and of the representations.

Mediation is a quick and efficient dispute resolution method, inexpensive in comparison with court and arbitration proceedings. It allows the parties to settle their conflict to their mutual satisfaction with the assistance of an independent third party, and to preserve their relationship for the long-term prospective. Practice shows that use of mediation in resolution of commercial conflicts between the representatives of different countries and cultures brings very good results (the statistics worldwide usually show a positive result of 80%).

Mediator Portrait

Fit & Proper (Anti Money Law / LBA Art.14 let.c.)

mediation

Daniel Glasner is an Accredited Mediator by CEDR, Centre for Effective Dispute Resolution, and by the Swiss Chamber of Commercial   Mediation “SCCM”. He completed the Advanced Mediation Skills Course of Edwards Mediation Academy, California.

Daniel Glasner is Ombudsperson of Ombudsman SCAI, Swiss Chamber’s Arbitration Institution, according to the FinSA, recognized by the Federal Finance Department, Bern,

Dispute prevention, conflict management and resolution

He specializes in mediating financial disputes in the areas of wealth management notably in financial investment advisory and in discretionary portfolio management performed by Private and Commercial Banks, Asset Managers and by Independent Financial Advisors. Dispute can also arise when executing orders in the stock exchanges, foreign exchanges, as well as in margin calls, stop losses.

Since June 2020, Daniel Glasner is a Judge Assessor to the Geneva Criminal Court.

From a multicultural family origin, having been raised, lived and worked in 3 continents, this background allows Daniel Glasner to establish straightforwardly a rapport with a diversity of people from various roots. He speaks fluently French, English and Spanish, and at very ease with Italian and German. He holds a Degree of Master of Sciences, HEC and a Degree of Master of Arts, Political Sciences, both completed at University of Lausanne, Switzerland.

Mediation style and approach

Daniel Glasner’ outgoingness, combined with a good conversational manner and a nice touch of humor allows the parties space to speak openly which gives rise to them to naturally disclose to him additional information at an early stage of the mediation process.

His style is commercially direct, with the ability to rigorously reality test the positions, needs, concerns and interests of the parties. He is dynamically seeking that both parties negotiate their best deal.

Practice areas

Asset Management, Banking, Brokerage, Financial Advisory, Foreign Exchange, Fund Distribution, Futures & Options, Margin calls, Stop loss, Professional Financial Liability Insurance, Mortgages, Mutual Funds – ETF, Portfolio Management, Structured Products, Private Equity, Securities Dealing, Inheritance, Wealth Management, notably in financial investment advisory and in discretionary portfolio management (in traditional bonds & shares as well as in Hedge Funds). 

Banking, Financial and Asset Management expertise

Daniel Glasner has built up almost a 40 years professional carrier as a

  • Broker in Chicago in the financial futures & options exchanges
  • A Market Maker in foreign exchange options in Basle for a major Swiss Bank
  • Member of the Top Executive Management and of the Investment Committee of an Independent Financial Advisor with several branches in Switzerland who became under his management a Securities Dealer licensed by the Swiss Federal Banking Commission
  • CEO of an Independent Financial Advisor in a delicate turn-around situation who became under his management a Securities Dealer and received thereafter a Swiss banking license from the Swiss Federal Banking Commission, and finally
  • Founder and Managing Director of an Independent Financial Advisor (Action Finance SA) in Geneva who benefitted from 2004 until 2019 of a Distributor of Collective Investments License granted by Swiss Federal Banking Commission, actionfinance.ch

Daniel Glasner is a regular writer, speaker and moderator of financial and regulatory events, including being on panels.

Among tasks performed:

  • Act as an Expert Financial Evaluator, nominated by a preliminary investigation judge (former 1st public Federal Prosecutor) to assist him about a suspicion of an insider trading case involving Clariant and Hoechst, which was reported by the Swiss Securities Exchange.
  • Audit and assess how competently banks or Independent Financial Advisor have managed the portfolio of clients (such as in the Bernard L. Madoff case) and to calculate the damage suffered.
  • Contact the defendant party to try finding a negotiated settlement agreement due to a poor accomplishment of a portfolio management mandate or due to a liquidation of securities acquired principally by assignation of short puts, financed by a margin account (credit lombard)
  • Advise attorneys on foreign exchange technical matters arising from the unexpected Swiss National Bank decision on 15 January 2015 to discontinue the support of the euro at EUR/CHF 1.20 rate.
  • Among other, he was responsible for legal and regulatory compliance, including all aspects of money laundering. He is an AML Compliance Officer and a Risk Manager (customer classification, information provided to the customer, suitability, and appropriateness of investments with the customer’s profile).

Independence

As a sole founder, employee and Managing Director of Action Finance SA, Daniel Glasner enjoys full autonomy and independence from any client of Action Finance SA. He is not subject to a relationship of subordination or partnership. Whenever a mandate is opened, Daniel Glasner nevertheless carries out a complete check-up in order to verify his independence status and the absence of any conflict of interest or circumstance that may be perceived as such.

Professional Memberships

  • Honorary Member and Former President (2008-2010) of the Swiss Association of Independent Financial AdvisorsGSCGI”; Member of the Professional Liability Insurance Commission, Member of the Communication and Public Relations Commission. GSCGI’s Code of Conduct is recognized by FINMA), gscgi.ch
  • Groupement des Compliance Officers de Suisse Romande et du Tessin, “GCO”, an association of more than 180 Professional Compliance Officers; Member of the Asset Management and Securities Dealing Group, gco-association.ch
  • Former Secretary General and Member of the Executive Committee, CIFA, Convention of Independent Financial Advisors, (A non for profit Foundation, a Non-Governmental Organization “NGO”, in general consultative status with the Economic and Social Council of the United Nations ”ECOSOC”, cifango.org