Status von ICMA

ICMA’sLegalandRegulatoryStatusandRelationshipwith
Regulators and Organisations
1. LEGAL STATUS IN SWITZERLAND
1.1 Association under Swiss law
ICMAwasestablishedin1969asanassociation(“Verein”)founded
under the laws of Switzerland with independent legal capacity. It is
registered in the Commercial Register of the Canton of Zurich.
1.2 Institution similar to an exchange
Until October 1998 ICMA was not subject to supervision in
Switzerland. The Federal Act on Stock Exchanges and Securities
Trading (SESTA) which came into force in February 1997/January
1998 introduced the concept of an institution similar to an exchange
(“börsenähnlicheEinrichtung”). In its decision of October 28, 1998
(the Decision), the Swiss Federal Banking Commission (the SFBC)
ruled that ICMA is such an institution and therefore submitted ICMA
in part under SESTA and in this capacity and to this extent under its
supervision.

http://ec.europa.eu/internal_market/securities/docs/isd/consultation_mifid/icma-part2_en.pdf