EMIR Fitness Test

European Market Infrastructures Regulation (EMIR) was the European Union’s (EU) response to systemic risks created by OTC derivatives. EMIR introduced an obligation for standardised and liquid OTC derivative contracts to be traded over a trading venue, a clearing obligation for OTC derivatives by means of a central counterparty (CCP), as well as an obligation to report all transactions to a trade repository.

Towards a harmonised European Crowdfunding & ICO Regime

On 8 March 2018, the European Parliament and Council released a proposal for the regulation of commercial European Crowdfunding Service Providers (ECSP).

FINMA publishes new fact sheet on virtual currencies

On September 3rd 2018, FINMA published a new fact sheet on dealing with virtual currencies, such as "Bitcoin". The fact sheet provides information on licensing requirements under financial market law and risks associated with the blockchain technology. This technology makes it possible to manage monetary units of virtual currencies in a computer network. This network enables decentralized currency trading on the Internet, in which neither the state nor other banks are intermediaries.