On June 15 2018, the Swiss Parliament adopted the Swiss
Financial Services Act (FinSA). In the meanwhile, the Swiss Federal
Council opened a consultation process regarding the Financial
Services Ordinance (FinSO), implementing the provisions of the
FinSA, which will last until February 6 2019. Together with the new
Swiss Financial Institutions Act, the FinSA and the related
implementing ordinances are expected to enter into force on January
1 2020. These laws are part of an entirely new regulatory framework
governing the Swiss financial markets.
The new prospectus rules entail a radical change for securities
offerings in Switzerland. This article provides an overview of
those new prospectus requirements which are generally relevant for
corporate issuers.
