Publication Of Sanctions On The SWX Website

The SWX Swiss Exchange is now publishing on its Website, integrally and fundamentally in an anonymous form, a list of the sanctions that have been pronounced by the SWX against participants and traders as well as sanctions pronounced by the disciplinary commission against issuers since 1 January 2002. Excepted from this anonymous form of presentation are those sanction proceedings that resulted in publication of the related facts, as well as proceedings for which a high degree of public interest exists in knowing the name of the issuer involved.

The related decisions can be accessed at http://www.swx.com/news/sanctions_en.html. The decisions are published only in the relevant original language (German, French or English). No translations are made. The list will be updated regularly to reflect any new decisions that have been pronounced.

In taking this step, SWX is striving as a self-regulatory organisation to improve the transparency and legal certainty of the sanctions it imposes. For quite some time now, SWX has been publishing the media communiqués related to its decisions against issuers (see http://www.swx.com/admission/publicity_sanctions_en.html)). Such publication will continue to be made in German, French and English.