MLL has published a new Orell Füssli commentary about the Swiss Financial Market Infrastructure Act and the Federal Intermediated Securities Act
Alexander Vogel, Head of Corporate, Banking and Finance, Christoph Heiz, Partner Banking & Finance, and Reto Luthiger, Senior Associate Banking & Finance, wrote and published this comprehensive and interdisciplinary commentary in the Orell Füssli publishing house (link to the book).
The Financial Market Infrastructure Act (FMIA) and its implementing ordinances standardise the largely new Swiss law on financial market infrastructures and derivatives trading as well as the existing areas of disclosure and takeover law. The Federal Intermediated Securities Act (FISA) and the Hague Securities Convention (HSC) regulate the safekeeping of securities and book-entry securities by custodians and their transfer, as well as the applicable legal system for questions relating to intermediated securities.
The commentary explains the individual provisions mainly on the basis of the materials, the literature on the new law and – where still relevant – the case law and literature on previous law. It also contains the relevant ordinances (FMIO, FMIO-FINMA, TOO), important circulars of FINMA and the Takeover Board (TOB) as well as relevant regulations of the SIX and BX Swiss.