Welcome to CapLaw
CapLaw is a digital newsletter with international reach established and led by the General Editors. We provide up-to-date information on legal and regulatory developments regarding the capital markets, publish concise articles on developments in the Swiss and international financial markets, and announce recent deals and forthcoming events. CapLaw is addressed to all Swiss and international lawyers, in-house counsel, financial institutions and corporates, as well as those who are interested in the Swiss capital markets.
CapLaw Themes
- FinSA (FIDLEG) (33)
- FinIA (FINIG) (11)
- Insurance (8)
- Securities (103)
- Regulatory (142)
- Takeover (19)
- Derivatives (7)
- News, Deals & Cases (531)
- Events (159)
- Other Areas (8)
CapLaw PDF Archive
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Read more: Swiss Life‘s Issuance of EUR 500 Million Senior Bond
Swiss Life‘s Issuance of EUR 500 Million Senior Bond
On 28 April 2026, Swiss Life successfully placed a EUR 500 million senior bond with maturity in 2033 and a coupon of 3.736%. The bond was placed with investors in the European market. The proceeds will be used for general corporate purposes. The bond is guaranteed by Swiss Life Holding Ltd.
Reference: CapLaw-2026-50 -
Read more: Capital Markets Law in Focus 2026 (Kapitalmarktrecht im Fokus 2026)
Capital Markets Law in Focus 2026 (Kapitalmarktrecht im Fokus 2026)
Wednesday, 19 August 2026, SIX Convention Point, Zurich https://ile.unisg.ch/de/newsdetail-1/events/kapitalmarktrecht-im-fokus-2026
Reference: CapLaw-2026-51 -
Read more: 13th Conference on Internal and Regulatory Investigations (13. Tagung zu internen und regulatorischen Untersuchungen)
13th Conference on Internal and Regulatory Investigations (13. Tagung zu internen und regulatorischen Untersuchungen)
Tuesday, 1 September 2026, Metropol, Zurich https://www.eiz.uzh.ch/product/13-tagung-zu-internen-und-regulatorischen-untersuchungen/
Reference: CapLaw-2026-52 -
Read more: 29th Conference on Mergers & Acquisitions (29. Zürcher Konferenz Mergers & Acquisitions)
29th Conference on Mergers & Acquisitions (29. Zürcher Konferenz Mergers & Acquisitions)
Tuesday, 22 September 2026, Lakeside, Zurich https://www.eiz.uzh.ch/product/29-zuercher-konferenz-mergers-acquisitions/
Reference: CapLaw-2026-53 -
Read more: Conflicts of Interest: Law & Best Practice IV (Interessenkonflikte: Recht & Best Practice IV, Anti-Korruptions-Compliance in Unternehmen – Wie weit darf Beziehungspflege gehen?)
Conflicts of Interest: Law & Best Practice IV (Interessenkonflikte: Recht & Best Practice IV, Anti-Korruptions-Compliance in Unternehmen – Wie weit darf Beziehungspflege gehen?)
Tuesday, 29 September 2026, Metropol, Zurich https://www.eiz.uzh.ch/product/interessenkonflikte-recht-best-practice-2026/
Reference: CapLaw-2026-54 -
Read more: 19th Conference on Asset Management (19. Tagung zur Vermögensverwaltung)
19th Conference on Asset Management (19. Tagung zur Vermögensverwaltung)
Thursday, 1 October 2026, Metropol, Zurich https://www.eiz.uzh.ch/product/19-tagung-zur-vermoegensverwaltung/
Reference: CapLaw-2026-55 -
Read more: Editorial | Switzerland‘s IPO Market: Unlocking the Next Wave of Mid-Cap Listings
Editorial | Switzerland‘s IPO Market: Unlocking the Next Wave of Mid-Cap Listings
The Swiss IPO market saw a welcome reopening in 2024 and 2025. Galderma, Sunrise, SMG Swiss Marketplace Group and Bioversys demonstrated that SIX Swiss Exchange is a competitive listing venue across deal sizes and sectors. From the perspective of a domestically anchored capital markets bank, this is the right starting point: the infrastructure works, the regulatory framework is broadly fit for purpose, and a deep institutional investor base sits behind the market. Yet, the same data show a structural gap. Bioversys aside, most originally Swiss-founded growth companies that listed between 2020 and 2025 chose Nasdaq rather than SIX. The next…
Reference: CapLaw-2026-17 -
Read more: Back from Moratorium: Bondholder-Driven Restructuring and Going Public
Back from Moratorium: Bondholder-Driven Restructuring and Going Public
This article analyzes the key legal issues in HT5‘s restructuring and return to the public markets. It reviews the hybrid bond reorganization (out-of-moratorium vs. in-moratorium reorganization) and related takeover and reporting questions, as well as the evidentiary approach applied to lifting the moratorium. It further addresses how the shares required for the conversion were made available under Swiss corporate law notwithstanding the naming requirement and examines the merger structure (including dividend timing and the split between merger report and prospectus) as well as the ensuing financial statement and listing requirements.
Reference: CapLaw-2026-18 -
Read more: The Impact of the New Swiss ForeignDirect Investment (FDI) Regime onCapital Market Transactions
The Impact of the New Swiss ForeignDirect Investment (FDI) Regime onCapital Market Transactions
The Swiss Parliament has approved the Investment Screening Act (ISA) which forms the basis of the Swiss FDI regime, on 19 December 2025. As no popular referendum had been initiated by the end of the respective deadline on 17 April 2026, the ISA will enter into force and the Federal Government is expected to publish the implementing ordinance later this year. The purpose of the ISA is to prevent the acquisition of Swiss undertakings by foreign state “controlled” investors if this would threaten the public order or security in Switzerland. Acquisitions of Swiss companies operating in particularly critical sectors by…
Reference: CapLaw-2026-19 -
Read more: The New Payment Instrument InstitutionsLicense under the revised Swiss Financial Institutions Act – An Opportunity forForeign Payment Service Providers?
The New Payment Instrument InstitutionsLicense under the revised Swiss Financial Institutions Act – An Opportunity forForeign Payment Service Providers?
On 22 October 2025, the Swiss Federal Council initiated the consultation process for a revision of the Financial Institutions Act. The proposed legislation aims to increase financial innovation under the Swiss regulatory framework. Under the revised Financial Institutions Act, the Federal Council, intends to introduce a new license category, the “Payment Instrument Institution“ which will replace the current FinTech license (also referred to as the banking license light) provided for under article 1b of the Federal Act on Banks and Savings Institutions. In the context of the consultation process on the Federal Council‘s draft legislation, the new licensing category has…
Reference: CapLaw-2026-20