Directive on
Financial Reporting
(Directive Financial Reporting, DFR)

Table of contents

• I. General provisions
• Art. 1: Purpose
• Art. 2: Scope
• Art. 3: Internationally recognised standards
• Art. 4: Confidentiality
• Art. 5: Definitions
• II. Recognised accounting standards
• Art. 6: Principle
• Art. 7: Issuers of debt securities
• Art. 8: Issuers not incorporated in Switzerland
• III. Interim financial reporting
• Art. 9: Principle
• IV. Publication and submission
• Art. 10: Annual report
• Art. 11: Interim financial report
• Art. 12: Submission
• Art. 13: Electronic publication
• V. Special provisions for investment companies
• Art. 14: Annual and interim financial statements
• Art. 15: Change of business activity
• Art. 16: Difficult-to-value investments
• VI. Special provisions for real estate companies
• Art. 17: Annual and interim financial statements
• Art. 18: Change of business activity
• VII. Special provisions for global depository receipts
• Art. 19: Accounting standards
• VIII. Final provisions
• Art. 20: Entry into force
• Art. 20a: Revision
• Art. 21: Transitional provisions
• Annexes
• Annex 1