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Collective Investment Schemes in Distress

This thesis is concerned with collective investment schemes in distress.
It starts by giving an overview of the Swiss Collective Investment Schemes Act (CISA) and the collective investment schemes which can be set up in Switzerland since the CISA came into force in 2007 as well as the players involved in said collective investment schemes. These include the managing bodies of these collective investment schemes, the custodian bank, the regulatory auditor as well as the statutory auditor, the distributors of shares in collective investment schemes and the investor.
This is followed by a study of the distress situations in which the abovementioned collective investment schemes may find themselves. This is done in order to identify the links between the economic phenomenon of the crisis and the legal terminology which applies to this phenomenon. Finally, on this basis the thesis covers three subjects:
– Which duties to act are assigned to the respective players in the distress situation and how do they work together?
– What kind of measures can a collective investment scheme implement in order to overcome the distress situation and what are the requirements for said measures? What is the prospect of success?
– What are the requirements for the liability of the involved players?

The thesis is available under

by Dr. Christian Schönfeld in St. Galler Schriften zum Finanzmarktrecht, Band 12
June 2016

Global Financial Standards and Regulatory Reforms

Stefan Wandel discusses the evolution of global post-crisis standards in finance and takes a critical look at their effectiveness to prevent cross-border systemic risk. The analysis reveals specific deficiencies, which raise doubts as to the effectiveness of the reform efforts undertaken.

by Dr. Stefan A. Wandel in Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht SZW, 06/2015, 562-569.
May 2016

Aktienrecht im digitalen Zeitalter

The article covers the use of electronic means in the Swiss joint stock corporation and includes the ongoing revision of Swiss corporate law.

by Prof. Dr. Urs Bertschinger in Festgabe Schweizerischer Juristentag 2015 in St. Gallen – Recht im digitalen Zeitalter
September 2015

Das Wertrechtebuch gemäss Art. 973c Obligationenrecht

Der Beitrag beleuchtet die Ausgestaltung und Bedeutung des Wertrechtebuches für die Schuld- und Aktienwertrechte sowie die Schaffung von Bucheffekten.

by Prof. Dr. Urs Bertschinger in Festschrift für Peter Nobel 2015
July 2015

Vergleich der Regeln zur Ad-hoc-Publizität für Emittenten, deren Aktien an der SWX und an der SWX Europe gehandelt werden

Urs Feller compares the practice regarding ad-hoc-publication obligations in Switzerland and in the United Kingdom with a view to companies whose shares are also listed on the SWX Europe Ltd. and thus must comply with European disclosure rules.