National
Switzerland Implements Measure to Protect Stock Exchange
During its meeting on 29 November 2023, the Federal Council brought the statutory anchoring of the measure to protect the Swiss stock exchange that has been in place since 2019 into force with effect from 1 January 2024. In this way, Switzerland continues to avoid the negative repercussions of its stock exchange regulations not being recognised by the European Union.
2023-11-29 10:45:22newsbot by content-proivder.ch GmbH
Quelle: Swiss Federal Council
The Federal Council of Switzerland has announced that they will be implementing a measure to protect the Swiss stock exchange, starting from 1 January 2024. This measure was put in place in 2019 in response to the European Commission refusing to extend recognition of Switzerland's stock exchange regulations.
The goal of the measure is to maintain a functioning Swiss stock exchange infrastructure and allow EU securities firms to continue trading Swiss company equities on Swiss stock exchanges. The Federal Council proposed incorporating the protective measures into ordinary law, which was approved by Parliament on 17 March 2023.
The measure will be temporary and initially last for five years. The Federal Council has the ability to deactivate the measure before the end of this period.
The statutory anchoring will be implemented through the Financial Market Infrastructure Act. The decision to put the measure into force was made by the Federal Council during a meeting on 29 November 2023.
Contact information for the State Secretariat for International Finance (SIF) has been provided for further inquiries..
(Quelle:Swiss Federal Council modified with ChatGPT)
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Switzerland Implements Measure Protect Stock Exchange
