Marcel Hostettler appointed to the Regulatory Board of the Swiss stock exchanges
Marcel Hostettler, Partner and Head of Heuking’s Swiss office, was appointed to the Regulatory Board of the Swiss stock exchanges at the beginning of August. As a self-regulated and independent body, Zurich-based SIX Exchange Regulation AG (SER) regulates and monitors SIX’s (Swiss Infrastructure and Exchange) exchanges.
The law provides for self-regulation of the Swiss financial markets under the supervision of the Swiss Financial Market Supervisory Authority (FINMA). The regulatory bodies of SIX’s exchanges are structured in accordance with the principle of the separation of powers: The Regulatory Board issues rules, SER monitors compliance with the rules and, in case of rule violations, initiates sanction proceedings within the scope of self-regulation, which are judged by the judicial bodies.
The Regulatory Board is responsible for establishing regulations. In the context of self-regulation, it issues regulations for issuers, participants, and traders, which are submitted to FINMA for approval. The Regulatory Board forms two committees: the Issuers Committee represents listed companies and investors, and the Participants & Surveillance Committee represents exchange participants.
“I am honored to be appointed to the Regulatory Board,” said Marcel Hostettler. “I am well aware of the great responsibility and am proud to be a member of this important institution,” added the lawyer, with a view to the other members of the Regulatory Board, who are representing the elite of the Swiss business community.