Initiative Against Fat-Cat Salaries becomes law: Ordinance enters into force on 1 January 2014
Bern, 20.11.2013 - On Wednesday, the Federal Council determined that the Ordinance Against Excessive Remuneration in Listed Companies Limited by Shares will come into effect as of 1 January 2014. Article 95 para. 3 of the Federal Constitution, which derives from the popular initiative "Against Fat-Cat Salaries", will thus come into force two months earlier than required. The new Ordinance affects listed companies and pension institutions.