December 2015

On 9 December 2015, FINMA published its new Ordinance on Financial Market Infrastructure (FMIO-FINMA). These regulations implement the new rules on disclosure of significant interests in listed companies, which the Swiss Parliament adopted in June 2015, and which will become effective on 1 January 2016. The new rules include welcome simplifications to the Swiss disclosure regime. However, they also impose important new obligations, in particular on asset managers. The deadline to make the disclosures required under the new rules expires on 31 March 2016.