On 28 September 2012, the Swiss parliament passed a bill amending the Stock Exchange Act (SESTA). The amendment, which is due to enter in force on 1 April 2013, introduces fundamental changes to market abuse and takeover law, as well as other minor revisions of Swiss securities laws: it overhauls the market abuse regulations by introducing a new administrative enforcement regime and introducing heavier criminal sanctions for insider dealing and market manipulation. Second, it extends the scope of application of Swiss takeover law and disclosure rules, while introducing a strict regime of equal treatment of investors in connection with mandatory bids.