8.7 Disclosure of Management Transactions
Issuers have to disclose transactions in relevant financial instruments (equities; conversion, purchase or sale rights; etc.) by the members of their board of directors and management in accordance with the following process:
- The issuer is required to instruct, train and periodically remind the persons subject to reporting requirements in an adequate and sustainable way regarding the obligations to disclose management transactions.
- Members of the board of directors and of the management must report to the issuer all reportable transactions within two trading days from the creation of the reporting obligation (conclusion of the binding transaction or, in stock exchange trades, the execution of the transaction).
- The issuer has to submit the transaction (including the indication of the name, date of birth and function of the person subject to the reporting obligation) within three subsequent trading days on the electronic reporting and publication platform of SIX Exchange Regulation AG.
- The report is published without the name and date of birth, but with the specification of the relevant function, on the website of SIX Exchange Regulation AG.
Further Information
For regulations, directives and guidelines concerning the disclosure of management transactions, see ➔ ser-ag.com/en/topics/management-transactions.html
For entering management transactions via the electronic reporting and publication platform, see ➔ disclosure.six-exchange-regulation.com/obligations/management_transaction/ddeal/login_en.html
For published management transactions, see ➔ ➔ ser-ag.com/en/resources/notifications-market-participants/man- agement-transactions.html#/
For the upcoming revision of the regulations, including the revised guidelines (to enter into force on 1 February 2024), see ➔ ser-ag.com/dam/downloads/regulation/listing/communiques-regulatory-board/com202308-en.pdf