Berne removes EU from list of stock market protection measures
Keystone-SDA
From May 1, the European Union (EU) will be removed from the list of jurisdictions affected by Switzerland’s stock market protection measures, the Swiss government announced on Wednesday.
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In 2019, the Swiss government introduced this temporary measure after Brussels failed to renew the recognition of stock market equivalence. The government noted in a press release that the EU has since updated its legal framework.
The measure ensured that EU investment firms could keep trading shares in Swiss companies on Swiss platforms. By spring 2024, Brussels had revised its legal framework and lifted the restrictions on trading Swiss securities within the EU.
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The Swiss-EU bilateral treaty updates, explained
“The Swiss protective measure concerning the EU is no longer necessary and should be lifted to benefit Swiss companies,” the government said. It noted that the measure could sometimes negatively impact Swiss firms, especially during mergers with EU companies.
Talks on financial market regulation with the EU resumed last summer. “Given the crucial role of cross-border private client business for Switzerland’s financial hub, we continue to seek recognition of equivalence and better access to EU markets for Swiss financial service providers,” the government added.
Translated from French with DeepL/sp
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