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Law and Practice of Capital Markets


Mozzarelli M. C. M.

Course director


The course provides the knowledge necessary to understand the legal implications of capital markets-related communications and covers a range of real-world situations such as: 

First section
• the initial stages of the "funding escalator", 
• the dynamics of crowdfunding, 
• financing for startup enterprises.

Second section
• the communication processes accompanying an Initial Public Offering (IPO) including public disclosure and roadshows for institutional investors,
• the drafting of marketing documents for investment products offered to retail investors,
• measures to prevent market abuse, including the public disclosure of price-sensitive information and the notification of managers' transactions,
• internal investigations and whistleblowing.


The course aims to equip students with practical insights into essential aspects of capital market regulation within the broader framework of corporate financing, emphasizing Swiss legal practices. At the end of the course, participants will be able to: (1) understand the theoretical foundations and the main legal solutions of initial stages of the “funding escalator”; (2) be acquainted with the regulations related to crowdfunding, IPOs, market abuse and internal investigations; (3) understand the relationship between the law "on the books" and the law "in practice".

Teaching mode

In presence

Learning methods

Teaching will primarily be practice-oriented and interactive, thereby focusing on several current real-life cases and in-depth analysis of legal contract templates. Students are encouraged to actively contribute to in-class discussions. Participants are not required to buy a specific textbook. Reading materials (e.g. scientific publications, policy papers issued by International Organizations, excerpts from the leading international financial press) will be provided on iCorsi.

The first section will be taught by
- Prof. Michele Mozzarelli, Università Cattolica del Sacro Cuore, Milano

The second section will be taught by
- Prof. Franca Contratto, USI and Universität Luzern
- Dr. iur. Lorenzo Togni, partner at Homburger, Zurich 
- Dr. Philippe Weber, partner at Niederer Kraft & Frey, Zürich 
- Dr. Daniel Weber, Counsel at Wenger Vieli, Zürich 

Examination information

Written exam. It consists of an open question on the first section’s contents of the course and several multiple-choice questions on the contents of the course's second section.