CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. SWX Announces Adoption Of New Rules

SWX Announces Adoption Of New Rules

by Ulrika Lomas,, Brussels

27 November 2006

The SWX Swiss Exchange (SWX) is adopting new Rules of Procedure in 2007 which it says will mean considerable changes and benefits for issuers, participants and traders.

The changes announced by the Swiss exchange include an improved system of checks and balances, greater legal certainty, standard rules of procedure governing investigative and sanction proceedings and the faster completion of these proceedings.

Under the reforms, the bourse's Admission Board retains its legislative authority as before, but cedes its present judicial powers to the newly created independent Sanction Commission (which replaces the current Disciplinary Commission), in a bid to improve the separation of powers.

Meanwhile, the SWX is standardising procedural rules that will be applicable across all areas of supervision.

The exchange believes that this reorganisation of judicial powers, in addition to other "select changes", will mean that proceedings are concluded more rapidly for participants, traders and issuers.

In addition, a new statute of limitations provision will also help to speed up the conclusion of proceedings, the Exchange said. This will mean that no proceedings will be instituted if a possible breach of the SWX rules and regulations happened more than two years ago. Similarly, a decision may no longer be taken if more than two years have passed since proceedings began.

The new rules come into force on 1 January 2007, although they will not apply to proceedings for which investigations commenced prior to 1 January 2007.

A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at and a description of the report can be seen at

To see today's news, click here.


Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »

Stay Updated

Please enter your email address to join the mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.

To manage your mailing list preferences, please click here »