Listed companies are subject to periodic reporting obligations. These provide investors with insight into the issuer’s financial situation, operating performance and corporate governance principles.
Financial Reporting
Ordinary financial reporting includes the publication of the audited annual financial statements and the half-year financial statements. The reports must present a true and fair view of the assets and liabilities, financial position, operating results and cash flows of the listed issuer in a manner that is transparent and comprehensible.
Financial reporting must be prepared in accordance with a recognised accounting standard:
- IFRS Accounting Standards
- US GAAP
- Swiss GAAP FER
- Accounting standard for banks (pursuant to Swiss banking legislation)
Corporate Governance Reporting
The corporate governance report must provide appropriate and transparent information on the principles of management and on the relationships between shareholders, the board of directors and executive management.
In particular, this includes:
- information on the group and capital structure
- information on the composition of the governing bodies
- an explanation of shareholders’ participation rights
Sustainability Reporting
Suspended from 1 January 2026 until further notice.
An increasing number of issuers also report on their environmental and social performance, often as part of the annual report. Listed companies that have opted in to sustainability reporting agree to prepare their sustainability report in accordance with an internationally recognised standard and to publish it on their website.
Regulations
Listing Rules Listing Rules
Directive Financial Reporting Directive on Financial Reporting
Directive Corporate Governance Directive on Information relating to Corporate Governance
Directive Alternative Performance Measures Directive on the Use of Alternative Performance Measures
Circular No. 2 Circular No. 2 - Financial Reporting
Further Regulations
Guidance
Guideline on the Corporate Governance Directive This Guideline provides an explanation of issuers’ obligations in connection with the DCG as adopted by SIX Exchange Regulation. It will be updated at certain intervals and is intended as a means of providing issuers with guidelines on how they can remain in compliance with DCG.
Guideline on the Corporate Governance Directive (newer version available) This Guideline provides an explanation of issuers’ obligations in connection with the DCG as adopted by SIX Exchange Regulation. It will be updated at certain intervals and is intended as a means of providing issuers with guidelines on how they can remain in compliance with DCG.
Pre-Clearance
Further Guidance
Sanctions
SaKo-II/2024 LR 51, DFR 6 | Violation of the applicable accounting standard Swiss GAAP FER | Missing consolidated financial statements despite continued control (FER 30), incorrect restatement of prior periods, incomplete disclosures regarding the scope of consolidation, personnel expenses, and segment reporting | Intent
Further Sanctions