Swiss Exchange Seeks Regtech Solutions For Swiss Prospectus Review

Swiss Exchange Seeks Regtech Solutions For Swiss Prospectus Review

by March 14, 2019

New legal requirements in Switzerland will make Regtech services in financial services a very hot topic. The Berne Stock Exchange wants to be at the forefront of this and is now looking for Regtech partners.

The new Financial Services Act (FinSA) is expected to enter into force in Switzerland on 1 January 2020.

The law obliges financial service providers to provide customers with appropriate information and advice and introduces a uniform regulation on the obligation to publish a prospectus for all financial instruments offered to the public in Switzerland or from Switzerland. A prospectus summarises the relevant information for investors on the type, object and risks of a financial instrument.

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New legal requirements in Switzerland as of 2020, What new services does this create?

Prospectuses must be reviewed by a prospectus inspection office that has obtained a license by the Swiss Financial Market Authority (FINMA) before the financial instruments are offered to the public. As one of the two Swiss stock exchanges, the BX Swiss (Berne Stock Exchange) will apply to FINMA as an inspection office / review body for prospectuses. Regtech solutions in this area are of interest both for the preparation of prospectuses and to support the review process by the prospectus inspection office.

What are the tasks of the Inspection Office?

The review of prospectuses is limited to completeness, coherence and comprehensibility. The completeness check is carried out in accordance with the legal requirements in so-called prospectus schemes (checklists) in the Annex to the Financial Services Ordinance (FinSO). These include, for example:

  • Information on the issuer, it’s business activities and composition of its staff
  • Annual and interim financial statements of the issuer
  • Information on the financial instrument (incl. risks)
  • Further trading relevant parameters

Why is a software-supported review process useful?

It is essential for the market that the prospectus review in Switzerland can be carried out as cost-effectively and efficiently as possible. For its services, the inspection office must charge fees that cover its costs. It is therefore important that the examination can be carried out as efficiently and digitally as possible so that costs can be kept low.

Requirements for Regtech solutions in Swiss Prospectus Review

In the area of prospectus review, Regtech solutions are interesting which enable a contextual interpretation of text documents according to given criteria and subject areas. The results of the legally required completeness check must be prepared in such a way that a person can then check and confirm them efficiently.

In addition, the prospectus inspection office must inform the applicant of its decisions. Legally signed documents are required for this. In this area, we are looking for Regtech document management solutions that enable the simple integration of a qualified electronic signature as per Swiss legal requirements.

Do you have a suitable Regtech solution ready? 

Interested Regtech companies that offer suitable services can contact Berne exchange directly at They need to describe the company, the offered solutions in the Regtech area and attach a short presentation.

More information about the topic can be found also at

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