"OLSdigital" – The New SIX Platform For Digital Disclosure Notifications

The disclosure of shareholdings in accordance with art. 120 et seqq. of the Financial Market Infrastructure Act (FMIA) and its implementing ordinances (in particular art. 10 et seqq. FMIO-FINMA) is a key element of Swiss capital market and stock exchange law. The market should receive a timely overview of any (changes in) holdings of the relevant investors (or groups thereof) (starting from 3% of the voting rights) in issuers of shares listed in Switzerland. The relevant information is published on the website of the SIX Exchange Regulation (SER) or Bern Stock Exchange (BX).

Various details of the required content of any individual or group reporting obligations, particularly in light of sometimes complex transaction structures, are not always clear and must be examined in detail on a case-by-case basis. The relatively short deadline of (generally) four trading days from the date on which the reporting obligation arises has in the past proven to pose a