Events that could affect the price of a share beyond the usual fluctuations must be communicated immediately and clearly by listed companies. This brings all interested market participants to the same level of information.
WHAT NEEDS TO BE PUBLISHED
The ad hoc publicity obligation covers price-sensitive facts, if applicable such as financial figures, staff changes and planned mergers. There is no exhaustive list of events so the decision as to whether to publish an ad hoc announcement is at the discretion of the listed company. An exception thereto are annual and interim reports pursuant to Art. 49 and Art. 50 LR, which must always be published with an ad hoc announcement pursuant to Art. 53 LR.
WHEN IT NEEDS TO BE PUBLISHED
An ad hoc announcement is required as soon as the company becomes aware of the essential elements of the matter at hand. If possible, the announcement must be published outside of critical trading hours: before 7:30 am or after the close of trading at 5:40 pm. If, in exceptional cases, the announcement is made during critical trading hours, we must be informed at least 90 minutes before publication so that we can temporarily cease trading of the affected securities if the situation requires it.
WHERE IT NEEDS TO BE PUBLISHED
To reach the widest audience, ad hoc announcements must be sent not only to us, but also to at least two electronic financial news services and two Swiss media (printed or electronic). The announcement must also appear on the listed company’s website and must be sent to interested market participants by email.
REVISED PROVISION IN THE AREA OF AD HOC PUBLICITY
All information and relevant documents on the revised provisions in the area of ad hoc publicity can be found on our dedicated info page on the topic.
Publications
Guideline of SIX Exchange Regulation AG on the Directive on Ad hoc Publicity of 1 October 2021
DAH Guideline - Completely revised version as of 21 March 2022
FAQ
A selection of frequently asked questions (FAQ) with consolidated responses
Manual Connexor Reporting
Your guide to the application
Onboarding Connexor Reporting
The guide to your registration
Further publications
Media Releases
Fine against Burkhalter Holding AG as legal successor of Poenina Holding AG
The Court of Arbitration of SIX Group AG has dismissed the appeal filed by Burkhalter Holding AG (as legal successor of Poenina Holding AG). The preceding decision of the Sanctions Commission, including the fine of CHF 150’000, has been fully upheld.
Trading of the registered shares – Spexis Ltd, Allschwil
SER concludes investigation into Banque Cantonale du Valais (Walliser Kantonalbank)
SIX Exchange Regulation AG (SER) has imposed a fine of CHF 80’000 for a violation of the rules on ad hoc publicity.
Further media releases