10 April 2017

Update on the contractual recognition of a stay on termination rights

Swiss banks and securities dealers (hereinafter together the "banks") must make sure that the counterparties of certain contracts contractually recognize, in advance, a possible temporary stay on the termination of contracts imposed by FINMA. This should ensure that FINMA's insolvency measures are internationally enforceable (on this subject, see our article here)  

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14 March 2017

Amendments to Swiss Disclosure Law

The Swiss Financial Market Supervisory Authority FINMA has revised the disclosure obligation for third parties who are authorised to exercise voting rights associated with equity securities at their own discretion. Going forward, market participants can choose between two alternative ways to fulfil the disclosure obligation. Disclosure filings submitted pursuant to the previous regime have to be filed again in accordance with the new provisions by the end of August at the latest.

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01 March 2017

Contractual recognition of a stay on termination rights

Swiss banks and securities dealers (hereinafter for the sake of simplicity "banks") must make sure that the counterparties of certain contracts contractually recognize, in advance, a possible temporary stay on the termination of contracts imposed by FINMA. This should ensure that FINMA's insolvency measures are internationally enforceable (on this subject, see our article). Existing uncertainties are now to be clarified through a revision of the law.

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VISCHER AG, Zürich
Schützengasse 1, Postfach 1230, 8021 Zürich
Tel. +41 58 211 34 00, Fax +41 58 211 34 10

VISCHER AG, Basel
Aeschenvorstadt 4, Postfach 526, 4010 Basel
Tel. +41 58 211 33 00, Fax +41 58 211 33 10

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