SER - TRUSTED REGULATOR Menu en Prospectus Submission Listing & Admission to Trading Regular Reporting Obligations Ad Hoc Publicity Management Transactions Corporate Reporting Disclosure of Shareholdings Surveillance & Enforcement Market Participant Reporting Obligations SIX Exchange Regulation Contact RSS Newsfeed Newsletter subscription Media Release subscription Education SIX Careers SIX Swiss Exchange SIX Repo SIX Digital Exchange Menu Fundamentals Home Laws, Regulations, Rules Current regulatory framework for exchange admission and trading Communiqués Information on regulatory changes and Media Releases Market Participant Notifications Databases containing Management Transactions, Significant Shareholders, Official Notices, Delisting decisions and Prospectus list Sanctions Publication of legally binding judgments in case of rule violations List of Recognised Representations Experts authorised to represent issuers Resources Annual reports, practical guidelines and manuals Audit of Participants Information on the periodic compliance review Forms & Logins Home PROSPECTUS OFFICE SYSTEM Digital transmission of prospectus applications for review CONNEXOR LISTING Listing and reporting of product-related events for bonds and derivatives Listing Events CONNEXOR REPORTING Reporting of regular reporting obligations and ad hoc announcements MANAGEMENT TRANSACTION REPORTING Reporting of management transactions OLS DIGITAL Disclosure of significant shareholdings TRANSACTION REPORTING Reporting of reportable trades and orders by securities dealers REGULATORY REPORTING OBLIGATIONS FORMS Transmission of other reportable facts Menu Fundamentals Home Laws, Regulations, Rules Current regulatory framework for exchange admission and trading Communiqués Information on regulatory changes and Media Releases Market Participant Notifications Databases containing Management Transactions, Significant Shareholders, Official Notices, Delisting decisions and Prospectus list Sanctions Publication of legally binding judgments in case of rule violations List of Recognised Representations Experts authorised to represent issuers Resources Annual reports, practical guidelines and manuals Audit of Participants Information on the periodic compliance review Forms & Logins Home PROSPECTUS OFFICE SYSTEM Digital transmission of prospectus applications for review CONNEXOR LISTING Listing and reporting of product-related events for bonds and derivatives Listing Events CONNEXOR REPORTING Reporting of regular reporting obligations and ad hoc announcements MANAGEMENT TRANSACTION REPORTING Reporting of management transactions OLS DIGITAL Disclosure of significant shareholdings TRANSACTION REPORTING Reporting of reportable trades and orders by securities dealers REGULATORY REPORTING OBLIGATIONS FORMS Transmission of other reportable facts en DE FR Search Contact Menu Schliessen SER - TRUSTED REGULATOR We Regulate the Swiss Stock Exchange Our Objectives Our Responsibilities Our Organisation Sanctions and Use of Fines We Regulate the Swiss Stock Exchange SIX Exchange Regulation (SER) ensures the integrity and transparency of the Swiss stock market. As an independent authority, we regulate and supervise listings, disclosure and reporting obligations, as well as trading activities. SER is an independent, autonomous unit within the SIX Group reporting directly to the Chairman of the Board of Directors. Under the supervision of FINMA and in accordance with applicable laws and regulations, SER oversees and regulates trading, issuers and market participants on the Swiss stock exchanges. Rules are issued by the Regulatory Board itself. Our Objectives We promote trust, security and stability in the Swiss capital market by: ensuring legal certainty, consistency, and reliability safeguarding fairness and transparency for investors supporting market stability and efficiency Our Responsibilities We review prospectuses and approve listings, monitor fulfilment of reporting obligations, and ensure that trading complies with the rules. Reporting obligations of listed companies include corporate reporting, ad hoc publicity disclosure of management transactions and significant shareholdings. When we identify breaches of the rules, we initiate appropriate proceedings and sanctions. Our Organisation SIX Exchange Regulation (SER) is an independent organisational unit within the SIX Group, clearly separated from the operational business of the exchange. This structural and functional separation ensures that regulation, supervision, and enforcement are conducted independently, objectively, and free of conflicts of interest – a central principle of independence and the separation of powers. SER is structured into two core divisions: Listing & Enforcement and Surveillance & Enforcement: Listing & Enforcement is responsible for the admission of companies and securities to trading, as well as the enforcement of disclosure and reporting obligations. Surveillance & Enforcement continuously monitors trading on the SIX Swiss Exchange and examines potential breaches of market conduct rules. Both divisions work closely together to safeguard the integrity, transparency and fairness of the Swiss capital market. Sanctions and Use of Fines The SIX Sanctions Commission can impose measures on listed companies and other market participants, including traders and reporting agents – ranging from warnings and suspensions to fines of up to CHF 10 million. Decisions may be appealed to the independent Appeals Board and to the SIX Arbitration Court, which issues final rulings. Fines do not benefit SIX; they are fully allocated to research projects in the Swiss financial centre and to certified charitable organisations. 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