April 2013

In September 2012, the Swiss Parliament amended the Federal Act on Stock Exchanges and Securities Trading (SESTA), in particular regarding the duty to disclose significant interests in listed companies. On 10 April 2013, the Federal Council adopted the regulations implementing the new regime, which will enter into force on 1 May 2013. The main changes introduced by the revised SESTA in respect of the disclosure duty are summarised below.