Our Team

Our experts are here for you if you have any questions with respect to financial market regulation in Switzerland. Please contact one of the below partners or your usual Homburger contact.

Benedikt Maurenbrecher, Partner, Team-Head
Jürg Frick, Partner
Hansjürg Appenzeller, Partner
René Bösch, Partner
Daniel Haeberli, Partner
Katrin Ivell, Partner
Stefan Kramer, Partner
Benjamin Leisinger, Partner

New legislation with a history

Homburger was closely involved in the shaping of the new architecture of the Swiss financial market regulation. We contributed to the crafting of the new legislation, commented on drafts of new laws and ordinances, and actively promoted such legislation nationally and internationally. We also acted as first mover publishers on explanatory notes and articles as well as editors and authors in commentaries.

Very specifically we actively participated in the design, drafting and implementation of the new Swiss prospectus law established by the Swiss Financial Services Act of June 15, 2018. A team, led by René Bösch and Benjamin Leisinger, started already in 2013 with the initial work on the Act, lead an industry-wide consultation on the prospectus law provisions in 2014 that had a significant impact on the final version of the Act, and René Bösch, Benjamin Leisinger and Daniel Haeberli supported the legislative process in the Federal Parliament by heading expert groups in charge of drafting the implementing ordinance in coordination with the Swiss government. Finally, we fostered discussions and cohesion among the leading underwriters and issuers active in the Swiss market as to the implementation of new processes and forms of prospectuses etc. for equity and debt instruments as well as structured products.

Homburger Insights

Bulletins

• UK grants equivalence to Swiss stock exchanges (February 3, 2021)
• Covid-19: Temporary Changes to the Swiss Insolvency and Restructuring Regime (April 16, 2020)
• Covid-19 bridge loans (March 25, 2020)
• Finale Finanzdienstleistungsverordnung FIDLEV veröffentlicht (November 6, 2019)
• New Equity Prospectus Regime to be Phased In (November 6, 2019)
• Cross-border Financial Services into Switzerland – New Rules for Investment Products (August 13, 2019)
• Cross-border Financial Services into Switzerland – New Rules of Conduct (July 26, 2019)
• Cross-border Financial Services into Switzerland – Organizational Requirements (July 15, 2019)
• Cross-border Financial Services into Switzerland – Be Prepared (June 28, 2019)
• Cross-border financial services in light of FinSA (September 27, 2018)
• Financial Services Act adopted by the Swiss Parliament (June 15, 2018)
• Financial Institutions Act adopted by the Swiss Parliament (June 15, 2018)

Bulletins with respect to DLT

• Swiss DLT Law in the Final Stretch (December 2, 2019)
• Swiss Draft Law on Distributed Ledger Technology (March 25, 2019)
• Distributed Ledger Technologie and Blockchain (December 14, 2018)

English Publications

• Position Paper regarding selected Aspects of the Financial Services Act (FinSA) (CapLaw 3/2021)
• Financial Market Regulation (Lexology / Getting The Deal Through: Swiss M&A 2020; Law Business Research)
• Offering of investment funds under the new Swiss Financial Services Act – a change of paradigm (International Bar Association, 8. Juli 2020)
• New Swiss financial market rules: a guide (International Financial Law Review (IFLR), Autumn 2020; IFLR)
• Exchange offers under Switzerland’s new prospectus regime: a guide (International Financial Law Review (IFLR), Summer 2020; IFLR)
• The New Swiss Prospectus Law – An Introduction and Overview for Issuers of Debt Securities (Updated Version of January 2020)
• The future of equity capital markets transactions in Switzerland: what issuers of equity instruments should know about the new Swiss prospectus regime (Capital Markets Global Guide: Equity; Thomson Reuters)
• The New Swiss Equity Prospectus Regime – What Issuers and Underwriters of Equity Instruments Should Know (Updated Version of January 2020)
• The New Swiss Prospectus Law – An Introduction and Overview for Issuers of Debt Securities (Updated Version of January 2020)
• Banking regulation in Switzerland: overview (Banking Regulation Global Guide, 2019; Practical Law)
• The New Swiss Prospectus Regime (CapLaw No. 5/2019, pp. 2-9; CapLaw)
• The Basic Information Sheet – No surprises in the final implementing ordinances, but some relevant amendments (CapLaw No. 5/2019, S. 16-21; CapLaw)
• The New Swiss Prospectus Regime (CapLaw No. 5/2018, pp. 2-10; CapLaw)
• The Swiss Financial Center: Combining Innovation and Stability – A Regulatory Perspective (Swiss-American Chamber of Commerce Yearbook 2018; AmCham Switzerland)
• Investor Information versus Investor Protection: Is Prospectus Regulation Heading in the Right Direction? (WWL Capital Markets 2018; Law Business Research)

German Publications

• 10 Fragen und Antworten zum FIDLEG (GesKR 1/2021, S. 42 – 56)
• Die Schweiz behält Augenmass (Finanz und Wirtschaft – Beilage Strukturierte Produkte)
• Ein Kind der Finanzkrise (Schweizer Jahrbuch für Strukturierte Produkte 2019, S. 48 ff.; Payoff)
• Überwachungs- und Warnpflichten im Kapitalanlagegeschäft (Dissertation; Schulthess Verlag, 2019)
• Regulierungs-Tsunami in der Schweiz und Europa (Finanz und Wirtschaft, Sonderbund «Strukturierte Produkte»)
• Das FIDLEG-Prospektrecht ante portas – Guter Anlegerschutz? Eine Würdigung im nationalen und internationalen Kontext (SZW / RSDA, Heft 5 / 2018, pp. 451-461; Schulthess)
• Informationspflichten nach dem geplanten FIDLEG zur Prävention von Anlegerschäden (Prävention und freiheitliche Rechtsordnung, APARIUZ XVIII, 2017, pp. 313 – 348 ; Dike Verlag AG)
• Neues Prospektrecht gemäss E-FIDLEG: Schnittstellen – Gereimtes und Ungereimtes – Verpasste Chancen (Aktuelle Herausforderungen des Gesellschafts- und Finanzmarktrechts, Festschrift für Hans Caspar von der Crone zum 60. Geburtstag, 2017, pp. 495 – 514 ; Schulthess Verlag)
• Änderungen beim Vertrieb kollektiver Kapitalanlagen unter dem FIDLEG / FINIG (GesKR 2/2016, pp. 205 – 214 ; Dike Verlag AG)
• Das neue Schweizer Prospektrecht gemäss E-FIDLEG – eine Bestandesaufnahme und erste Würdigung (Zeitschrift für Schweizerisches Recht (ZSR) 135/2016 I, pp. 81 ff. ; Helbing Lichtenhahn Verlag)
• Schweizer Finanzmarktrecht im Umbruch – Das Finanzmarktinfrastrukturgesetz (Schweizerische Juristen-Zeitung SJZ 2014/10, pp. 249 ff. ; Schulthess Verlag)
• Länderreport Schweiz: Compliance bei grenzüberschreitenden Finanzdienstleistungen (Compliance-Berater 8/2013, pp. 312 – 315 ; Deutscher Fachverlag)