End of the year 2000 the transitional period provided for by art. 52 of the Stock Exchange Act expired. Thus, a shareholder who holds shares corresponding to at least 5% of the voting rights of a Swiss corporation whose equity securities are listed on a Swiss stock exchange, must notify such shareholding to the company and to any stock exchange on which such equity securities are listed.
In this context it is noteworthy that the relevant Swiss supervisory authority, the Federal Banking Commission, will no longer tolerate that the law is (apparently) widely neglected and will prosecute wrongdoers more vigorously. This relates also to foreign investors holding participations in Swiss listed companies.
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