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Capital Markets

16 July 2019
Daniel Bono EU equivalence assessment of Swiss stock exchanges

Switzerland - Niederer Kraft Frey

The Federal Department of Finance recently announced that it was activating the measures adopted by the Swiss Federal Council to protect the Swiss stock exchange infrastructure in anticipation of the expiration of the stock market equivalence granted by the European Commission. Notably, the protective measures do not affect companies with registered offices in Switzerland that are listed and traded exclusively on exchanges outside Switzerland.

Authors: Daniel Bono, Christina Del Vecchio
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Susan I Gault-Brown SEC clarifies investment adviser standard of conduct

USA - Morrison & Foerster LLP

The Securities and Exchange Commission recently issued an interpretive release designed to reaffirm, and in some cases clarify, the standard of conduct that investment advisers owe to their clients. While the interpretive release includes no new regulation, it clarifies the type of disclosure, policies and procedures that advisers should adopt to ensure that they continue to operate in a manner that is consistent with their fiduciary obligations.

Authors: Susan I Gault-Brown, Kelley Howes
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Recent updates

Nitzan Sandor Initial public offerings – an overview

Israel - FBC

Authors: Nitzan Sandor, Sharon Rosen
David M Lynn SEC proposes changes to 'accelerated filer' and 'large accelerated filer' definitions

USA - Morrison & Foerster LLP

Author: David M Lynn
Till Spillmann Non-public offerings in Switzerland – an endangered species?

Switzerland - Niederer Kraft Frey

Authors: Till Spillmann, Andrea Giger
Masaykui Fukuda Amendments to Financial Instruments and Exchange Act

Japan - Nagashima Ohno & Tsunematsu

Authors: Masaykui Fukuda, Hideaki Suda