The Swiss finance industry is going through interesting times. In addition to the changing economic environment and political views on how to govern financial market activities, the regulatory framework is about to be amended in a fundamental and comprehensive way. No longer will regulation have a sectorfocused approach. Rather, henceforth, the financial markets legal architecture will be based on different levels of regulation with the aim of applying the same rules to similar products and services across the industry.

The publication does not intend to be a comprehensive discussion of the proposed new acts, but rather aims to provide an overview with a focus on what Swiss and foreign market participants need to be aware of in view of the currently discussed proposals. The publication is based on the drafts and proposals published until 31 August 2014. As many of the proposals are still in an early stage, they might change significantly during the legislative process, so that developments will need to be monitored in the years to come.

The full publication is available for download at NKF's website.