Practice Group Legal & Regulatory

Switzerland’s overall legal framework is generally perceived as transaction friendly and amenable to the parties’ negotiated deal parameters, including for the entire bandwidth of relevant private equity related transactions, be it seed and venture capital investments, later stage & growth investments, restructurings, buyouts, going publics or private – although there are noticeable differences as to how relevant deal parameters are to be implemented under Swiss law compared to Anglo-Saxon based practices.

On the other side, the applicable Swiss legal framework for managing and distributing private equity investments has undergone substantial changes in the last few years. Inspired by the European Directive on Alternative Investment Fund Managers, the revised Swiss Collective Investment Schemes Act in 2013 introduced a license requirement for larger Swiss managers of foreign PE and VC funds. Further, fund distribution to Swiss qualified investors was tightened. Foreign initiatives as well as standards of international policy makers will continuously reshape the Swiss regulatory landscape.

The Practice Group Legal & Regulatory actively monitors all relevant legal developments relating to or affecting the venture capital, private equity and corporate finance market including on the all-important regulatory side and aims at giving a voice to the venture capital, private equity and corporate finance industry. Together with outside experts it also acts as know-how provider to SECA members in relevant legal and regulatory matters.