Capital Markets in Switzerland:
Regulatory Overview

A Q&A guide to capital markets law in Switzerland.

The Q&A provides a high-level overview of the main equity and debt markets/exchanges, and the main regulators and legislation that govern them. The prospectus/main offering document requirements are also covered, together with any reduced disclosure obligations and exemptions from the requirements to publish/deliver a prospectus/main offering document.

Equity capital markets covers the following areas: requirements for a primary and secondary listing; offering structures; advisers and documents; marketing; bookbuilding; underwriting; timetable; stabilisation; continuing obligations; market abuse and insider dealing; and de-listing. Private securities offerings are also briefly discussed.

Debt capital markets covers the following areas: restrictions on offering/selling debt securities; structuring a debt securities issue; listing debt securities and admission to trading; continuing obligations; advisers and documents; timetable; and clearing and settlement of debt securities.

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Thomson Reuters, Capital Markets in Switzerland: Regulatory Overview, April 2026