Swiss parliament intent on forcing foreign investment controls

The Swiss Senate wants to impose stricter controls on takeovers of Swiss companies by foreign investors. + Get the most important news from Switzerland in your inbox Lawmakers voted in favour of a corresponding bill on Monday, but will decide on the finer details at a later date. The parliamentary chamber reached its decision by 16 votes to 29 with no abstentions. The House of Representatives had spoken in favour of the bill in the autumn session. The Senate will only discuss the Investment Audit Act in detail at a later date. Firstly, the preliminary consultation committee will look at the bill in more detail. The legislative project is based on a motion by Senator Beat Rieder. Although foreign investments would remain permitted in principle under the Investment Control Act, they would now be subject to authorisation. The state could intervene in the event of security concerns. The House of Representatives tightened up the draft law last September. Specifically, it decided at the ...