Switzerland: Opportunity or threat?
The new listings rules announced last November by the Swiss Stock Exchange are aimed at attracting eurobond issuers to Zurich from the main European exchanges. Andreas von Planta and Jacques Iffland look at the potential impact on issuers
The entry into force of the European Union Prospectus Directive, the European Union’s (EU) decision to require companies to adopt international accounting standards, and the adoption in December 2004 of the Transparency Directive constituted significant milestones in the development of a unified capital market in the EU. The new regulations will soon allow investors to benefit from enhanced and more easily comparable disclosure documents. Issuers will benefit from the passporting regime, which will simplify EU-wide public offerings and allow them to tap into larger liquidity pools.
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