A guide to offering securities in Switzerland

Author: | Published: 26 Jan 2018

The proposed Financial Services Act will introduce new regulatory conduct rules and a new regime for the offering of securities

On November 4 2015, the Swiss Federal Council presented the draft Financial Services Act (FinSA) and submitted it to the Swiss Parliament together with its comments (the Dispatch). FinSA will impose several new requirements on financial services providers: it contains a set of regulatory conduct rules, regulates cross-border financial services, and introduces a registration requirement for individual client advisors. Furthermore, it will introduce a comprehensive Swiss prospectus regime for the first time. In the Dispatch, the Swiss Federal Council stated that the substance of the new rules aligns with EU rules while at the same time accounting for market practice in Switzerland....