On 1 November 2019, the new “Federal Act on the Implementation of Recommendations of the Global Forum on Transparency and Exchange of Information for Tax Purposes” came into force. Following the introduction of reporting duties for bearer shares in 2015, the new law goes even further and, with a few exceptions, results in the complete abolition of bearer shares. The following summary shall provide a brief overview of the consequences of the new law and show the need for action that arises thereof for companies and shareholders.