From the time at which securities are listed or admitted to trading on SIX Swiss Exchange, the issuers must comply with specific formalities to maintain the listing or admission to trading.
Securities traded on SIX Swiss Exchange must be traded in a transparent manner and with all market participants treated equally. This derives in particular from Art. 1 of the Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (Financial Market Infrastructure Act, FMIA). To ensure that transparency and equal treatment of investors while securities are listed or admitted to trading, specific information must be published and specific data and information submitted to SIX Exchange Regulation (maintenance obligations).
The obligations for maintaining a listing or admission to trading include the following:
- regular reporting obligations
- ad hoc publicity
- corporate governance
- financial reporting
- disclosure of shareholdings pursuant to Art. 120 f. FMIA
- management transactions
Financial Market Infrastructure Act
Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading (Financial Market Infrastructure Act, FMIA)
Bundesgesetz vom 24. März 1995 über die Börsen und den Effektenhandel (Börsengesetz, BEHG)
SIX Exchange Regulation Communiqué No. 4/2017
Main points of focus for the review of annual reports for 2017 and 2017/2018 with regard to compliance with the Directive on Information relating to Corporate Governance