Federal Act on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading

English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.


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Art. 151 Breach of notification duties

1A fine not ex­ceed­ing CHF 10 mil­lion shall be im­posed on any per­son who wil­fully:

a.
vi­ol­ates the no­ti­fic­a­tion duty cited in Art­icle 120 or 121;
b.
as the own­er of a qual­i­fied par­ti­cip­a­tion in a tar­get com­pany, fails to dis­close the ac­quis­i­tion or sale of equity se­cur­it­ies of that com­pany (Art. 134).

2A fine not ex­ceed­ing CHF 100,000 shall be im­posed on per­sons who com­mit the fore­go­ing acts through neg­li­gence.

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