Commentaries: Art. 142

Any person who has insider information and who knows or should know that it is insider information or who has a recommendation that he or she knows or should know is based on insider information shall behave inadmissibly when he or she:
1. ¹ exploits it to acquire or dispose of securities admitted to trading on a trading venue or DLT trading facility which has its registered office in Switzerland or to use derivatives of such securities;
2. discloses it to another;
3. ² exploits it to recommend to another to acquire or dispose of securities admitted to trading on a trading venue or DLT trading facility which has its registered office in Switzerland or to use derivatives of such securities.
The Federal Council shall issue provisions regarding the admissible use of insider information, in particular in connection with:
1. securities transactions in preparation of a public takeover offer;
2. a special legal status on the part of the recipient of the information.

Amended by No I 10 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Aug. 2021 (AS 2021 33,399;BBl 2020 233). ↩
Amended by No I 10 of the FA of 25 Sept. 2020 on the Adaptation of Federal Law to Developments in Distributed Ledger Technology, in force since 1 Aug. 2021 (AS 2021 33,399;BBl 2020 233). ↩

Art. 142