Capital Markets Law

Swiss Life suspends redemptions in European Real Estate Living and Working for up to 36 months due to insufficient liquidity.

The EU moves to T+1 settlement in 2027; new allocation and confirmation requirements apply to market participants from December 2026.

When real estate is acquired as an investment, an investment advisory agreement may arise. Investors may have damages claims. OLG Hamm 34 U 103/24

Real estate fund DF Deutsche Finance Investment Fund 17 – Club Deal Boston II in preliminary insolvency proceedings. Investors face losses.

The BGH confirms the inadmissibility of model proceedings against the auditor of an insolvent payment services provider.

ESMA clarifies when issuers may delay inside information under Art. 17 MAR and aligns the guidelines with the Listing Act.

ESMA expects EU crypto-asset service providers to end services for non-MiCA stablecoins and clear legacy holdings by 8 Jan 2027.

Risks of subordinated investments at Luana, ProReal and other issuers, and the consequences for investor claims.

Catella has terminated management of the Catella MAX real estate fund; investors face a multi-year wind-up and halted redemptions.