Competitor iMAPS
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SECURITIZATION IN GENERAL
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When is a PPM required for a note?
A private placement memorandum is required for a listing. Normally, such a listing is required by funds (EU SICAVs / MIFID-compliant funds) or institutional investors (pension funds).
Cayman hedge funds as investors, for example, do usually not require a listing or PPM.
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ISP Securities - Securitization of company shares
I have spoken with our business partner ISP Securities and the shares can be securitized for an annual fee of 30 basis points, minimum CHF 10'000 on the assessed value of the share capital (does not have to be equal to the nominal according to the HR statement), as well as 30 basis points for the creation of the shares (one-off). For a dividend etc. they will charge CHF 1'000 per event.
To be completely transparent, I would like to inform you that Gessler Capital receives 50% of the creation fees and annual fees. On the dividends we get nothing.
ISP Feedback (confidential):
"Wir können Dir für diesen Kunden eine jährliche Gebühr von 15 Basispunkten, Minimum CHF 5'000 auf dem bewerteten Wert des Aktienkapitals (muss nicht zwingend gleich dem Nominal gemäss HR-Auszug sein), sowie von 15 Basispunkten für die Erschaffung der Aktien (einmalig). Für eine Dividende etc. belasten wir CHF…
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New Prospectus Requirements under the FinSA
Another novelty in the Swiss market is the new prospectus
regime that applies as from 1 December 2020 and that has been
introduced by the Federal Financial Services Act (FinSA).
In a general attempt to bring the Swiss regulatory framework in
line with international regulations, such as MiFID II and the EU
Prospectus Directive, the Financial Market Infrastructure Act
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