Instructions Schemes
(SCH)
Rubrum
Instructions for using Schemes A to G
Instructions for using Schemes A to G
1 OBLIGATION TO PRODUCE A PROSPECTUS IN ACCORDANCE WITH THE LISTING RULES In order to be listed, the issuer must publish a listing prospectus which provides sufficient information for competent investors to reach an informed assessment of the assets and liabilities, financial position, profits and losses and prospects of the issuer, as well as of the rights attached to the securities (Art. 27 LR). The obligation to produce a prospectus exists irrespective of the regulatory standard. The information that the listing prospectus must contain depends on the regulatory standard under which the securities are listed. The required prospectus content is laid down in different Schemes for the various standards:
International Reporting Standard Scheme A Swiss Reporting Standard Scheme A Standard for Investment Companies Scheme B Standard for Real Estate Companies Scheme C Standard for Global Depository Receipts Scheme D Standard for Collective Investment Schemes Scheme A Standard for Bonds Scheme E Standard for Derivatives Scheme F Standard for Exchange Traded Products Scheme G
The relevant Schemes form an integral part of the Listing Rules or Additional Rules. The Schemes take the form of a user-friendly checklist that is intended to simplify the editing work associated with the preparation of a listing prospectus.
2 ABRIDGEMENT POSSIBILITIES The listing prospectus may be abridged under certain circumstances (e.g. Art. 34 LR, Art. 19 Additional Rules Bonds, Art. 26 Additional Rules Derivatives). Information that may be omitted in such cases is indicated by brackets around the check box next to that item in the relevant Scheme. If the criterion for abridgement given in the Scheme is satisfied, the point in question may be omitted from the listing prospectus. The following table offers a summary of the various abridgement criteria:
Symbol Abridgement criterion Scheme * Where the listing prospectus is abridged as permitted under A, B, C, D
Art. 34 LR, the information marked "*" may be omitted.
- Where the listing prospectus is abridged as permitted under E
Art. 19 AR Bonds, the information marked "-" may be omitted.
SIX Exchange Regulation 06/15 1 Admission of Securities Symbol Abridgement criterion Scheme A The information marked "A" may also be included in the investment B policy regulations, which form an integral part of the listing prospectus. B Where the listing prospectus is abridged as permitted under F
Art. 25 AR Derivatives, the information marked "B" may be omitted. C Where the listing prospectus is abridged as permitted under E
Art. 18 AR Bonds, the information marked "C" may be omitted. X Where the listing prospectus is abridged as permitted under E
Art. 31 AR Bonds, the information marked "X" may be omitted.
PROSPECTUS REVIEW BY SIX EXCHANGE REGULATION SIX Exchange Regulation will review the listing application on the basis of the documents that are submitted, and approve it only if the requirements laid down in the Listing Rules are fulfilled. These requirements include the submission of the listing prospectus, which will be checked to ensure its completeness. Decisions on the listing of securities are generally taken within 20 trading days. In order to speed up the review process, issuers may choose also to submit the checklists given in the Schemes, completed and showing the page numbers of the listing prospectus where the corresponding information is to be found.
RELATIONSHIP BETWEEN THE LISTING PROSPECTUS AND THE ISSU- ING PROSPECTUS PURSUANT TO ARTS. 652A AND 1156 OF THE CODE OF OBLIGATIONS These instructions refer to the requirements for listing prospectuses only. They in no way prejudice the provisions of the Swiss Code of Obligations (CO) on the content of the issuing prospectus (Arts. 652a and 1156 CO).
SIX Exchange Regulation 06/15