On Jan. 29, SWI GVT said Federal Council to remove EU from said list.
SWI SECO said Federal Council removes EU of stock exchange protection list on May 1.
Overview
At meeting of Jan. 29, 2025, the Federal Council decided to remove the EU from the list of jurisdictions affected by the stock exchange protection measure.
I.e. measure of 2019 in response to EU non-recognition of stock exchange equivalence to temporarily protect Swiss stock exchange; EU has since revised relevant legal basis.
Measure against EU no longer necessary so should be lifted in favor of SWI companies.
Switzerland will continue to strive for equivalence recognition, improvements in market access for financial service providers in regulatory dialogue with EU in financial sector.
Context
In response to EU's non-recognition of Swiss stock exchange regulation, Switzerland introduced a temporary protective measure for the Swiss stock exchange in 2019.
This ensured EU securities firms could continue to trade shares of Swiss companies on Swiss trading venues; in spring 2024, the EU changed the relevant legal basis and lifted the restrictions on EU securities firms trading in Swiss shares.
Thus trading in Swiss shares on Swiss stock exchanges is no longer affected by EU law.
The criterion of significant impairment of trading in Swiss equity securities provided for by the law could thus be subjected to a new assessment.
An overall assessment has shown the effect of Swiss protective measure against EU is currently no longer necessary and can, in individual cases, lead to negative effects for Swiss companies (e.g. in context of mergers with EU companies).
Thus, the Federal Council decided to remove EU from list of jurisdictions affected by the stock exchange protection measure as of May 1, 2025.
Talks with EC on package for stabilizing and further developing bilateral relations SWI-EU and regulatory dialogue in financial market area was resumed in summer 2024.
