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Werlen, Dr. Thomas
Direct Tel: +41 44 253 8080, Direct Fax: +41 44 253 80 01
Zurich
Tel: +41 44 253 80 00 Fax: +41 44 253 80 01

Prof. Dr. Thomas Werlen is the Managing Partner of the Swiss office. Thomas is recognized as one of the top attorneys in Switzerland reflecting his unique experience at the highest levels in law firms in New York and London, as well as in-house as Group General Counsel and Member of the Executive Committee of global pharma company Novartis. He has been involved as lead counsel in some of the highest profile civil and criminal matters in Switzerland.

Thomas’s practice focuses on white collar cases and corporate investigations as well as on complex litigation and arbitration, often involving multiple jurisdictions. 

Thomas regularly represents clients in high-stakes white collar matters. For instance, he has been representing a major sports organization in criminal investigations being pursued in the U.S. and Switzerland, as well as several major Swiss banking and financial institutions in matters adverse to Swiss and U.S. authorities in connection with the US Swiss Tax Program or with the fall-out of the “Panama Papers”. Thomas is also advising a number of high-profile clients in connection with 1MDB, PDVSA and Lava Jato related criminal and regulatory investigations, including major financial institutions in Switzerland and a large Swiss-based commodities trading company.

In the dispute resolution context, Thomas is representing clients from various industries -  including but not limited to the financial industry, the commodity industry, international sports, the industrial & high tech sector and the arts and entertainment industry -  in litigation and arbitration proceedings. Amongst others, he recently advised the majority shareholder in a multibillion cross-border acquisition dispute, a Swiss private banking group in a series of complex financial and regulatory disputes in the U.S., Europe and Asia and a major telecom operator in Switzerland in a dispute about a multi-billion Swiss francs takeover. Thomas is also providing strategic and legal advice on important business decisions to several ultra-high net worth individuals and their companies.

In the area of international sports, Thomas has become a well-known name in representing clients in a number of high-profile cases, including in the areas of football, boxing, basketball, field hockey and car racing.

Thomas is recognized among the country’s top lawyers and has been repeatedly recognized by Switzerland’s leading business newspapers as such – including by the Financial Times, Neue Zürcher Zeitung, Bilanz, and Handelszeitung, who described Thomas as “among Switzerland’s foremost litigators” , among “the select elite of Swiss business lawyers”, and “highly experienced in cases involving prosecution by both US and Swiss authorities”.  The Handelszeitung called Thomas “The Specialist for Conflicts”. Clients praise Thomas for his “ability in high-stakes negotiations” and describe him as a “stellar operator” and a “goal-oriented litigator”, who has “a rapid understanding of complex situations and an excellent network”, a lawyer who gives “fast and to-the-point advice” and is “very professional, with top-class”(Legal 500). Moreover clients state, that Thomas Werlen is “very clever and always has a tactic or strategy” and that he is “always very sound in his advice” (Chambers and Partners).

Prior to joining Quinn Emanuel, Thomas served as Group General Counsel and a member of the Executive Committee for Novartis. Acting in this capacity, he oversaw a global team of over 750 people spread across 140 jurisdictions, covering all areas of litigation affecting a multinational company with a U.S. listing in the heavily regulated pharmaceutical industry. Recognizing his transformative work at Novartis, Thomas was awarded the Golden Peacock Global Award for Corporate Governance, named a finalist for “In-House Lawyer of the Year” by The Lawyer and a “transformative in-house lawyer” by The Financial Times.

Before joining Novartis in 2006, Thomas was a Partner in the U.S. law group at the Allen & Overy London office, covering U.S.-related derivatives, capital markets and M&A transactions for European-based clients. Prior to that, he was associated with Cravath, Swaine & Moore and Davis Polk & Wardwell in New York and London, respectively. During this time, Thomas’s practice covered a wide range of areas, including banking, debt and equity capital markets transactions (both SEC registered and 144A), public and private M&A transactions, structured finance, derivatives and regulatory capital- related issues. He was repeatedly named as one of the leading U.S. international capital markets practitioners by various leading magazines.

Thomas holds Lic. iur. and Dr. iur. degrees in law from the University of Zurich and a Master's Degree from Harvard Law School. He has been a member of the Zurich bar since 1991 and a member of the  New York bar since 1997.  In 2012, the University of St. Gallen appointed him as "Privatdozent" (habilitated lecturer) for finance and capital markets law.

As of August 1, 2019, the University of St. Gallen appointed Thomas Werlen as Professor for finance and capital markets law. At the University of St. Gallen he lectures on finance, capital markets as well as corporate law and corporate governance. In addition, he also teaches finance and capital markets law in post graduate courses held at the University of Zurich.

Since 2012, Thomas has been a Member of the Panel of experts for P.R.I.M.E. Finance. In 2013, he began serving on the Appeals Board of the SIX Swiss Exchange AG. Due to his expertise in developing corporate governance and legal strategies across the globe, Thomas regularly appears as a panelist or keynote speaker at international seminars and conferences, features on TV and radio shows and attracts regular press coverage, see for example January 11, 2021, interview with Thomas' on Swiss Television about President Trump's judicial appointments and their implications (Link for interview: https://srf.ch/play/tv/redirect/detail/f9314529-54b1-4794-bf95-dc141e6089c5 and link for article https://www.srf.ch/news/wirtschaft/rechtsprechung-in-den-usa-die-trump-richter-werden-spuerbar-sein).

Selected Recent Public Matters:

Litigation:

  • Viasat Broadband Inc. – We represented U.S. satellite company Viasat in a strategically crucial dispute with a joint-venture partner. The dispute concerned the abuse of a 51% stake in a Swiss joint-venture, operating an internet satellite and carrying on a broadband internet business. Our representation involved a series of legal actions, including before Swiss and U.S. courts as well as two arbitrations under the LCIA rules seated in London. 
  • Salt Mobile S.A. – Lead counsel representing Salt Mobile SA (Salt) against Sunrise Communications AG (Sunrise) and Liberty Global Plc (Liberty Global) in the context of a USD 7.4 billion take-over battle in the Swiss telecom sector.
  • Lonza  - Represent Lonza in various international patent and competition law cases. Represent  Lonza in a AAA arbitration seated in New York against one of its customers.
  • Wolfgang Beltracchi  – Representing artist Wolfgang Beltracchi (formerly known as the “art forger of the century“) in a contracts and IP dispute with a financier.
  • SIG Combibloc  – We represent SIG Combibloc Systems GmbH, a German subsidiary of Swiss packaging industry giant SIG Combibloc Group AG, against damages claims of over EUR 200 million brought by Algerian-based company RC Industries in the courts of Algiers.
  • SIKA AG – Representing the majority shareholder of Sika AG in various matters in connection with the multibillion Sika/Saint-Gobain dispute dubbed the bitterest takeover battle in Europe, including advice in connection with disputes with the management of Sika AG; defending a director appointed by the client against director’s duty claims by the Bill and Melinda Gates Foundation Trust and Cascade Investments; as well as a special audit procedure that minority shareholders of Sika AG initiated.
  • Romanello – Representing this investment company in a complex financial dispute against a German financier involving a number of European and worldwide jurisdictions including the UK, Luxembourg, Germany, Monaco and Switzerland.
  • MSI –  Representing a U.S.-based engineering company in connection with alleged fraud against Dmitry Rybolovlev, a wealthy businessman in civil and criminal proceedings in Switzerland. In the same context,  coordinating enforcement actions against the opposing side in various jurisdictions.
  • Swatch  - represent Swatch in multiple US patent infringement cases

White Collar matters and investigations:

  • FIFA – Lead counsel to the Federation Internationale de Football Association (FIFA) in connection with investigations by the U.S. Department of Justice and Swiss law enforcement authorities of alleged bribery and corruption in international football world.
  • EFG International – Lead counsel to one of Switzerland's largest private banks in DOJ's investigation of tax evasion by US taxpayers using the Swiss banking industry. EFG was one of over 100 Swiss banks that participated in the DOJ-Swiss program for resolving disputes with DOJ, and the bank obtained a non-prosecution agreement and one of the most favorable settlements in the program. Also representing EFG in connection with a complex regulatory and contractual dispute involving a USD 200m loan to an insurance company.
  • Finacor – Representing this broker-dealer in connection with its participation in the U.S. Department of Justice’s Tax Program for Swiss banks.
  • Schaffhauser Kantonalbank- Representing this cantonal bank  in connection with its participation in the U.S. Department of Justice’s Tax Program for Swiss banks.

Sports matters:

  • Asia League Ltd. – Representing the Hong Kong based Asia League Ltd. in a number of disputes and negotiations with regard to “East Asia Super League”, the first integrated international basketball “Champions League” across Asia, including with FIBA, the International Basketball Federation;
  • FC Basel 1893 – Representing Switzerland’s Super League football club FC Basel 1893 with strategic advice on all kinds of high-stakes matters;
  • Fédération Internationale de Hockey (FIH) – Representing the Swiss-based governing body of field hockey, in resolving a high-stakes copyright issue; and
  • Hertha BSC – Being a member of the Aufsichtsrat of the German Bundesliga football club Hertha BSC;
  • TEAM MarketingRepresenting the promoter of the world’s most prestigious club football event, the Union of European Football Associations (UEFA) Champions League, in connection with corporate governance and potential litigation matters.
  • World Boxing Super Series – Representing a Swiss-based organizer of a boxing tournament in connection with disputes with respect to key contractual obligation arising from agreements to host high-profile boxing fights.

Selected Recent Confidential Matters:

Litigation:

  • Representing  a Swiss-based investor against one of the world’s largest business aviation operator and its controlling shareholder in connection with a minority investment.
  • Representing, the former Chief Medical Officer of a Swiss-based healthcare firm in relation to a high-stakes employment dispute.
  • Representing an UHNWI against a Swiss bank out of an advisory contract
  • Representing a litigation funder in a prospectus liability action on behalf of a large number of damaged bond holders.
  • Representing a long-standing client in a shareholder dispute regarding a joint venture with a Scandinavian television and multimedia company.
  • Representing an US- and Switzerland based Investment Fund with respect to appraisal litigation against a leading Swiss electricity company.
  • Representing a Swiss client in connection with investments made in one of the leading Middle Eastern private equity firms.
  • Representing a New York based hedge fund in a dispute against a Big Four company in connection auditing issues leading to the insolvency of a large Swiss-based company.
  • Representing a global food company in a contractual dispute with a Swiss-based vanilla trading company.
  • Advising a Swiss-based global travel company in a matter involving one of the group’s subsidiaries in a high-stakes dispute with a foreign regulator.
  • Representing a Swiss manufacturer  before the OFAC in connection with planned business contacts with a legal entity in Iran.
  • Advising a Swiss UHNWI in connection with the recovery of certain artworks.
  • Representing an international media company in a multi-jurisdictional insider trading investigation in Switzerland and Germany.
  • Representing one of the heirs to the inheritance of a well-known scientist against the other heirs in connection with obtaining a fair share of the inheritance in various jurisdictions.
  • Acting as sole arbitrator in a cross-border financial transaction dispute under the Swiss Rules of International Arbitration.
  • Representing  a group of three ultra-high-net-worth individuals from the Gulf region in negotiations with one of the largest Swiss-domiciled banking groups.
  • Conducted risk assessments for Swiss banks in relation to their conduct and businesses with U.S. clients. 
  • Served as expert for a multinational pharmaceutical company in a successful multi-billion dollar international arbitration concerning a license agreement dispute.
  • Representing a bank in a dispute out of the OSLA with another bank.
  • Representing a large multinational company in recouping assets held with financial institutions in Switzerland.
  • Representing a group of shipping companies in the context of a regulatory banking investigation, including administrative proceedings.
  • Representing one of the world’s most prominent luxury and jewelry companies in a potential patent infringement case.
  • Involved as expert in a case before the Swiss Supreme Court representing a large industrial company in  a case of mis-selling of financial products.
  • Involved as expert for the interpretation of the ISDA Master Agreement in connection with the insolvency of a financial institution.

White Collar matters and investigations:

  • Represent Swiss regulator in connection with a regulatory investigation of a Swiss bank
  • Representing a Luxembourg-based securitization company in connection with an investigation into a potentially fraudulent investment scheme in one of its compartments
  • Representing an Investment Company - a sovereign wealth fund from Abu Dhabi - in connection with Swiss company law/corporate governance issues and a regulatory investigation against one of its subsidiaries in Switzerland.
  • Representing  a global oil trading company in various matters, including a criminal investigation of the Swiss Federal Office of the Attorney General; a criminal investigation of the Geneva state prosecutor’s office against another trading company following a civil complaint filed against several trading companies in the US on behalf of PDVSA, the Venezuelan state-owned oil and natural gas company; and a criminal investigation against a former employee who was found guilty of bribery.
  • Representing a global food company as a victim of criminal acts by   a Swiss-based  trading company.
  • Representing a Swiss bank in connection with an internal investigation into certain bank clients implicated in parallel SEC and Greek investigations into alleged FCPA violations by Novartis and certain former employees of Novartis and in connection with two requests for banking records made by beneficial owners of two closed bank accounts that have been mentioned in the “Panama Papers”.
  • Representing an El Salvador UHNWI in connection with investigations in the U.S. and in Switzerland.
  • Representing a Swiss-Turkish entrepreneur in Swiss criminal proceedings for alleged embezzlement and forgery.
  • Representing a multinational company in connection with an alleged violation of the FCPA.
  • Involved in FX, LIBOR and CDS manipulation-related assessment of claims across the U.S. and Europe.

Sports matters:

  • Representing a major European broadcaster in a dispute with European football leagues over potential compensation for a reduced value of its rights due to the COVID-19 related suspension of the leagues in spring 2020.
  • Representing the organizer of a 3x3 Basketball tournament as part of the FIBA 3x3 Basketball World Tour in the negotiations for obtaining recognition from FIBA
  • Representing a Formula E driver to fend off allegations for commission payments in relation to his transfer from one team to another.
  • Representing a Swiss manufacturer of innovative sports clothing in a complex employment related dispute against former executives.
  • Representing a sports management company, in all aspects relating to its activities in motorsports (including in the Formula 1 and in Formula E) and sports in general, and in particular in bidding for a team entry in the Formula 1 Championship and in the transfers and management of a driver engaged in Formula 1 and in Formula E.
  • Representing a car racing team in Formula 2 and Formula 3, with various legal matters, including in a dispute on damages following a crash of one of its drivers and in enforcing overdue debts against former and current “Pay-Driver” in several jurisdictions;
  • Representing a government entity in a highly confidential matter related to the IOC Olympic Charter and on strategic and legal issues relating to international and domestic sports policy;
  • Representing an international online ticket marketplace company as global counsel in connection with regulatory, civil and criminal proceedings.
  • University of St. Gallen
  • (Prof., 2019)
  • University of St. Gallen
  • (PD, 2012)
  • Harvard Law School
  • (LL.M., 1995)
  • University of Zurich
  • (Dr. iur., 1994; lic. iur., 1989)
  • The State Bar of New York (since 1997)
  • The Zurich Bar (since 1991)
  • German
  • English
  • French
  • Italian
  • Spanish
  • Novartis:
    • Group General Counsel, 2006-2011
    • Member, Executive Committee, 2007-2011
  • Allen & Overy:
    • Partner, 2001-2005
  • Davis Polk & Wardwell LLP:
    • Senior Associate, 2000-2001
  • Cravath, Swaine & Moore LLP:
    • Senior Associate, 1999-2000 (London office)
    • Associate, 1995-1999 (New York office)
  • Former Co-Director of the EMBL Program at the University of St. Gallen, (from June 2017 until 2019)
  • Former Co-Chair, Banking Law Committee, IBA
  • Former Co-Chair, Capital Markets Forum, IBA
  • Former Member of Editorial Board, Butterworths Journal of International Banking and Finance Law
  • Former Member, Regulatory Board of the SIX Swiss Exchange AG (2008 – 2012)
  • 2010: Named in The Lawyer “Hot 100 2010” list
  • 2009: First Runner-up, In-House Lawyer of the Year, The Lawyer
  • 2009: Named an Innovative Lawyer in the Financial Times’ In-House Lawyers category
  • 2008: Golden Peacock Global Award for Corporate Governance
  • 2004: Named as one of the 50 finest Rainmakers of 2004 by Legal Business
  • 2000: Named as World's Leading Capital Markets Lawyer by IFLR
  • 1999: Named one of the Top 20 Capital Markets Lawyers in the World (the Best of the Best) by IFLR
  • 1998: Named as World's Leading Capital Markets Lawyer by IFLR

Books

Das Schweizerische Bankgeschäft, Herausgeber: Arpagaus / Stadler / Werlen, 8. Aufl., Zürich, 2021. (neben der Arbeit als Herausgeber auch Alleinautor von Teil 1 Einführung und Teil 6 Investmentbanking und Handel), forthcoming Spring 2021

"Kapitalmarkt – Recht und Transaktionen XV", Herausgeber: Werlen/Reutter, Zürich, 2020

"Kapitalmarkt – Recht und Transaktionen XIV", Herausgeber: Werlen/Reutter, Zürich 2019

"Kapitalmarkt – Recht und Transaktionen XIII", Herausgeber Werlen/Reutter, Zürich 2019

"Kapitalmarkt – Recht und Transaktionen XII", Herausgeber Werlen/Reutter, Zürich 2018

Aspekte der US-amerikanischen Securities Laws (mit S. Sulzer), in: Unternehmensfinanzierung am Kapitalmarkt (Hrsg. Habersack/Mülbert/Schlitt), 4. Aufl., Frankfurt 2019

“Exposure to U.S. Litigation – Myth of Reality for European Businesses?” in: US Litigation Today: Still a Threat For European Businesses or Just a Paper Tiger?, Veröffentlichungen des Schweizerischen Instituts für Rechtsvergleichung Vol. 85, Hrsg. Andrea Bonomi, Krista Nadakuvakaren Schefer (eds), Schulthess Verlag, Genf/Zürich/Basel 2018

Set-Off Law and Practice – An International Handbook (Edited by William Johnston, Thomas Werlen, Assistant Editor Frederick Link), 3rd Edition, Oxford University Press, 2018

"Kapitalmarkt – Recht und Transaktionen XII", Herausgeber Werlen/Reutter, Zürich 2017

"Kapitalmarkt – Recht und Transaktionen XI", Herausgeber Werlen/Reutter, Zürich 2016

"Kapitalmarkttransaktionen X", Herausgeber Werlen/Reutter, Zürich 2015

"Kapitalmarkttransaktionen IX", Herausgeber Werlen/Reutter, Zürich 2014

"Kapitalmarkttransaktionen VIII", Herausgeber Werlen/Reutter, Zürich 2013

Aspekte der US-amerikanischen Securities Laws (mit S. Sulzer), in: Unternehmensfinanzierung am Kapitalmarkt (Hrsg. Habersack/Mülbert/Schlitt), 3. Aufl., Frankfurt 2013

"Kapitalmarkttransaktionen VII", Herausgeber Werlen/Reutter, Zürich 2012

Das Schweizerische Bankgeschäft, Herausgeber: Emch/Renz/Arpagaus, 7. Auflage, Zürich 2012, Alleinautor von Teil 5 Investmentbanking und Handel (Kapitalmarktrecht (Primär- und Sekundärmarkt sowie Derivatgeschäfte)) (mit Ausnahme der Unterabschnitte V- VIII)

"Kapitalmarkttransaktionen VI", Herausgeber Werlen/Reutter, Zürich 2011

"Kapitalmarkttransaktionen V", Herausgeber Werlen/Reutter, Zürich 2010

Set-Off Law and Practice – An International Handbook (Edited by William Johnston, Thomas Werlen), 2nd Edition, Oxford University Press, 2010

"Kapitalmarkttransaktionen IV", Herausgeber Werlen/Reutter, Zürich 2009

"Kapitalmarkttransaktionen III", Herausgeber Werlen/Reutter, Zürich 2008

Aspekte der US-amerikanischen Securities Laws, in: Unternehmensfinanzierungen am Kapitalmarkt – Herausgeber: Habersack/Mülbert/Schlitt, 2.Aufl., Frankfurt 2008

"Kapitalmarkttransaktionen II", Herausgeber Werlen/Reutter, Zürich 2007

Set-Off Law and Practice – An International Handbook (Edited by William Johnston, Thomas Werlen), Oxford University Press, 2006

"Kapitalmarkttransaktionen", Herausgeber Werlen/Watter/Reutter), Zürich 2006

Aspekte der US-amerikanischen Securities Laws, in: Unternehmensfinanzierungen am Kapitalmarkt – Herausgeber: Habersack/Mülbert/Schlitt, Frankfurt 2005

Regulierung der derivativen Instrumente in den USA (Stand der Diskussion und Entwicklungstendenzen), pp. 39-112, in: Derivative Finanzinstrumente und Eigenmittel-vorschriften, Zürich 1995 (herausgegeben von Prof. Rolf H. Weber and Prof. Hirszowicz) (Band 34 – Schweizerische Schriften zum Bankenrecht)

1992 ISDA Master Agreement, unter besonderer Berücksichtigung der Swapgeschäfte, Zürich 1995 (mit Prof. Zobl) (Band 33 – Schweizerische Schriften zum Bankenrecht)

Rechtsprobleme des bilateralen Netting, Zürich 1994 (mit Prof. Zobl) (Band 18 – Schweizerische Schriften zum Bankenrecht)

Dissertation: Konzeptionelle Grundlagen des schweizerischen Kapitalmarktrechts, Zürich 1994 (Band 23 – Schweizerische Schriften zum Bankenrecht)

Articles

Das Aktienrecht im Wandel, Festschrift für H. U. Vogt, Herausgeber: Müller/Forrer/Zuur,  Zürich, 2020. Die Harmonika als Schnittmenge der Verfahren zu Kapitalherabsetzung, -erhöhung und Sanierung (mit R. Decurtins) 

US Litigation Today: Still a Threat For European Businesses or Just a Paper Tiger ?, in: US  Litigation Today, 29e Journée DIP, Swiss Institute of Comparative Law, Zürich 2018

The IBOR Global Benchmark Transition Report provides recommendations for  transitioning from the IBORs to alternative RFRs, July 2018 (with J. Trubowitz) -  https://blogs.lexisnexis.co.uk/loanranger/the-ibor-global-benchmark-transition-report- provides-recommendations-for-transitioning-from-the-ibors-to-alternative-rfrs/ 

Employee Rights, Switzerland, Global Investigations Review, May 2018 (with J. Hertner)

https://globalinvestigationsreview.com/jurisdiction/1005032/switzerland  

Überblick über das US-Kapitalmarktrecht, pp. 65-81, in: St. Galler Handbuch zum Schweizer Finanzmarktrecht, Zürich / St. Gallen 2018 (mit Jonas Hertner) (Hrsg. Peter Sester, Beat Brändli, Oliver Bartholet, Reto Schiltknecht)

Fragen im Zusammenhang mit Offenlegung von Rechtsfällen, in: Kapitalmarkt – Recht und Transaktionen XII, Zürich 2017 (Hrsg. Thomas Reutter, Thomas Werlen)

Crowdfunding nach Schweizer Art – Rückbesinnung auf die Prinzipien der Kapitalmarktregulierung (mit Jonas Hertner), pp. 315-330, in: Recht im digitalen Zeitalter, Festgabe Schweizerischer Juristentag 2015 in St. Gallen, Zürich / St. Gallen 2015 (hrsg. im Auftrag der Rechtswissenschaftlichen Abteilung der Universität St. Gallen von Lukas Gschwend, Peter Hettich, Markus Müller-Chen, Benjamin Schindler, Isabelle Wildhaber).

Resolution of International Financial Disputes — Can Switzerland be a Key Player? (mit Jonas Hertner), pp. 593-602, in: Law & Economics — FS Peter Nobel zum 70. Geburtstag, Bern 2015 (hrsg. von Robert Waldburger, Peter Sester, Christoph Peter, Charlotte M. Baer).

Paradigmenwechsel in der Primärkapitalmarktregulierung (mit C. Rehm), in: Tagungsband Kapitalmarkttransaktionen IX, Zürich 2014

Promoting a culture of compliance, in: The IN-HOUSE perspective, Volume 6, Issue 2, April 2010

"Karriere in einer Anwaltskanzlei oder in einem Unternehmen? In: In-House Counsel in internationalen Unternehmen"; Herausgeber: Sylvie Hambloch-Gesinn, Beat Hess, Andreas Meier, Reto Schiltknecht, Christian Wind, Verlag: Helbing & Lichtenhahn, Basel 2010

Verantwortlichkeit der FINMA, in: Sonderausgabe GesKR zum Thema FINMA, February 2009 (mit S. Sulzer)

Erwerb eigener Aktien, in: Liber Amicorum for Rolf Watter, Nedim P. Vogt et al. (Hrsg.), St. Gallen 2008, 493 – 511 (mit S. Sulzer)

"Festlegung von Entschädigungen der Verwaltungsrats- und Geschäftsleitungsmitglieder durch die Generalversammlung - eine Verbesserung der Corporate Governance?", in: SZW, Februar 2007 (mit A. Schnydrig)

Hedge Fund Activism, in: GesKR, Dezember 2006

Relevanz der EU-Marktmissbrauchsrichtlinie, in: Der Schweizerische Treuhänder, Schwerpunktnummer Kapitalmarktrecht, Oktober 2005

Emissionsbanken in der Pflicht – Lehren aus dem "Fall" Worldcom, in: Neue Zürcher Zeitung, 17 August 2005 (mit B. Bohr)

Liability of stock exchanges and other securities regulators, in: ZSR, Bd 124 (2005) II, 3rd Jurists' Forum, 2005 (mit Ph. Wood)

Is the "International Practice of Law" the Practice of Genuine International Law?, in: Liber Amicorum for the 35th Anniversary of Bär & Karrer, Basel 2004

The EU Prospectus Directive – Content of the unified European Prospectus Regime and comparison with U.S. Securities Laws, in: EUREDIA, December 2004 (with D. Fischer-Appelt)

The EU Prospectus Directive – An overview of the unified European Prospectus Regime, Part 1 and Part 2, in: Butterworths Journal of International Banking and Financial Law, Volume 19 – No. 10, November 2004 and Volume 19 – No. 11, December 2004 (with D. Fischer-Appelt)

Die Neuregelung des Europäischen Primärkapitalmarktrechts durch die Prospektrichtlinie. Anstoss zur Revision des schweizerischen Kapitalmarktrechts, in: FS Zobl, Zürich 2004

Modernising Collateralisation Laws in International Financial Markets, in: International Bar Association Committee E News, September 2003

Gelten US-Gesetze auch in der Schweiz?, in: Neue Zürcher Zeitung, p. 28., 22 März 2003 (mit A. Taormina)

Deutsche Anwälte von Regeln der SEC weitgehend verschont, in: Börsen-Zeitung, 28 Januar, 2003

Ongoing Disclosure Obligations in the US and Germany, Practising Law Institute, December 2002 (with M. DeFilippo)

Die Going-Public-Grundsatze der Deutschen Börse AG, in: AG, September 2002, p. 478-489 (mit M. Schlitt)

Close-Out Netting in Brazil, in: International Bar Association Committee E News, September 2002 (with C. Cortez)

The Present and Future of the Use of Collateral in International Transactions, with a Particular Focus on Switzerland, in: Swiss Reports Presented at the XVIth International Congress of Comparative Law, July 2002

Veröffentlichung beim Börsengang eingeschränkt, in: FAZ, 7 Mai 2002 (mit M. Schlitt)

The 2002 Model Netting Act: A Solution for Insolvency Uncertainty, in: Butterworths Journal of International Banking and Financial Law, April 2002 (with S. Flanagan)

Due Diligence Procedures for U.S. Public Offerings, Practising Law Institute Course Handbook, December 2001 (with J. Golden)

A new currency for Europe - United States, Euro Bulletin, Capital Markets Forum of the IBA, May 1999

Legal Implications of EMU on Derivatives Transactions and the U.S. Approach, Butterworths Journal of International Banking and Financial Law, March 1999

Legal Implications of EMU on Derivatives Transactions and the U.S. Approach, International Business Lawyer, January 1999

The Euro (with D. Cunningham), in: 30th Annual Institute on Securities Regulation, Practising Law Institute 1999

ISDA Netting Opinions, in: Swaps and other Derivatives in 1998, Practising Law Institute (with D. Cunningham)

ISDA offers standard documents for Credit Swaps, in: International Financial Law Review, May 1998 (with D. Cunningham and B. Jones)

The US prepares for European EMU, in: International Financial Law Review, December 1997 (with D. Cunningham), reprinted in: Current Developments in the European Capital Markets, The Impact of a Single Currency, p. 81-89, Practising Law Institute 1998

Risk Reduction through Multibranch Netting, in: Derivatives Handbook, Risk Management and Control (Edited by Robert J. Schwartz and Clifford W. Smith), New York, 1997 (with D. Cunningham)

ISDA Netting Opinions, in: Swaps and other Derivatives in 1997, Practising Law Institute (with D. Cunningham)

Cross-border Insolvencies in Search of a Global Remedy, in: International Financial Law Review, December 1996 (with D. Cunningham)

The Model Netting Act, A Solution for Insolvency Uncertainty, in: Futures & Derivatives Law Report, November 1996 (with D. Cunningham)

Providing a Legal Basis for Repurchase Transactions in the US, in: International Financial Law Review, April 1996 (with D. Cunningham)

Derivatives and the Reduction of Credit Risk, in: International Financial Law Review, January 1996 (with D. Cunningham)

ISDA Netting Opinions, in: Swaps and other Derivatives in 1996, Practising Law Institute (with D. Cunningham)

Wie schutzbedürftig ist der Käufer von OTC-Derivaten?, in: Neue Zürcher Zeitung, Nr. 152, 4 Juli 1995

Schweizerisches Kapitalmarktrecht als Anlegerschutzrecht?, 270ff., in: SZW, Sonderausgabe zum Kapitalmarktrecht, Mai 1995

Ausländische Anlagefonds und das revidierte Anlagefondsgesetz, in: INVEST, April 1995

Risikofonds unter dem revidierten Anlagefondsgesetz, in: Neue Zürcher Zeitung, Nr. 25, 31 Januar 1995

Durchsetzbarkeit bilateraler Nettingsysteme, in: Neue Zürcher Zeitung, Nr. 249, 26 Oktober 1993 (mit Prof. Zobl)

CapLaw

Update: The Enforcement of Clients’ Rights in the Financial Services Act (with J. Hertner), CapLaw December 2019 

The Enforcement of Clients’ Rights in the Financial Services Act (with J. Hertner), CapLaw December 2018

The Proposed Strengthening of Group Action in Swiss Civil Procedure (with R. Decurtins), CapLaw October 2018 

An Update on International Arbitration and Financial Institutions (with J. Trubowitz), CapLaw July 2018 

A Brief Overview of the LIBOR Reform (with J. Trubowitz), CapLaw April 2018 

Cross-Border Transactions in Intermediated Securities: Switzerland Maintains its Lead (Part 2/2) (with J. Hertner and M. Wühler), CapLaw February 2018 

Cross-Border Transactions in Intermediated Securities: Switzerland Maintains its Lead (Part 1/2) (with M. Wühler), CapLaw October 2017 

The Enforcement of Clients’ Rights in the Draft Financial Services Act (FinSA) – Update (with M. Portmann and J. Hertner), CapLaw February 2017 

U.S. Federal Reserve to Enforce U.S. Bank Resolution Regimes on Cross-Border Financial 

Contracts, Requiring Counterparties to Relinquish Default Rights (with J. Hertner), CapLaw September 2016 

The EU Market Abuse Regulation (with J. Hertner), CapLaw July 2016 

Draft Financial Services Act to Expand Clients’ Enforcement Rights vis-à-vis Financial 

Services Providers, Leaves Key Questions Unaddressed (with J. Hertner), CapLaw February 2016 

ABN AMRO Bank NV v Bathurst Regional Council Rating Agencies’ Duty of Care to Investors (with Y. Gailani), CapLaw July 2014

Global Benchmarks in the Spotlight: An Overview of Investigations into LIBOR and Foreign Exchange Market Manipulations (with J. Hertner), CapLaw May 2014 

The Globalization of Class Actions (with J. Hertner), CapLaw November 2013 

Update on Over-the-Counter (OTC) Derivatives Legislation in the EU (with S. Sulzer), CapLaw April 2012 

U.S. Securities and Exchange Commission issues final rules implementing the Dodd-Frank whistleblower provisions (with S. Sulzer), CapLaw March 2011 

Deutsche Bank loses first German High Court Case over Swaps (with S. Sulzer), CapLaw February 2011 

The U.S. Dodd-Frank Act - Implications for Foreign Private Issuers (with S. Sulzer), CapLaw May 2010 

Update on Over-the-Counter (OTC) Derivatives Legislation (with S. Sulzer), CapLaw April 2010 

Developments in Over-the-Counter (OTC) Derivatives Legislation (with S. Sulzer), CapLaw March 2010 6  

U.S. Bankruptcy Court finds that Payment Conditionality is unenforceable under Section 2(a)(iii) of the ISDA Master Agreement (with S. Sulzer), CapLaw January 2010 

Eliminating Broker Discretionary Voting for Director Elections - Impact on Foreign Private Issuers (with S. Sulzer), CapLaw June 2009 

U.S. Legislation on Over-the-Counter Derivatives (with S. Sulzer), CapLaw May 2009 

First Insider Trading Case Regarding Credit Default Swaps (with S. Sulzer), CapLaw April 2009 

Movements in the European Clearing Market (with S. Sulzer), CapLaw April 2009

CDS Standardization Aims to Introduce More Clarity (with S. Sulzer), CapLaw March 2009 

Regulating Credit Default Swaps (with S. Sulzer), CapLaw February 2009 

Weaknesses in the ISDA Master Agreement and the ISDA CSA (with S. Sulzer), CapLaw February 2009 

Enforceability of Standard Credit Default Swap Contracts (with S. Sulzer), CapLaw January 2009 

Selected Presentations

Annual Conference of P.R.I.M.E. Finance in The Hague (recurring presentations at annual general meetings 2013 – 2020 on various topics of actual relevance)

Traphagen Distinguished Alumni Speakers Series, Harvard Law School, October 2015

Herbsttagung des Bucerius Center on the Legal Profession, November 2013

 

  • Member, Supervisory Board, Hertha BSC Berlin (since August 2020)
  • Alternate Member of the Appeals Board of SIX Swiss Exchange AG (since September 2013)
  • Habilitated Lecturer (from November 2012 till August 2019) and Professor (since August 2019) for Finance and Capital Markets Law, University of St. Gallen (since November 2012)
  • University of Zurich: Lecturer for Corporate Governance, Finance and Banking Law (since 1996)
  • Member of Panel of Experts of P.R.I.M.E. Finance (since 2012)
  • Member, European Advisory Board, Capital Markets Law Journal
  • Member, Best Lawyers Advisory Board
  • Member, Advisory Board, University of Bologna Law Review
  • Member, Advisory Board, European Journal of Risk Regulation
  • Co-editor, CapLaw, the Swiss Capital Markets Law Newsletter published by Swisslex