Dr. Yves Mauchle

Biography

Yves Mauchle is a Partner in Baker McKenzie Switzerland's Corporate Finance department and acts as Co-Head of the Firm's Swiss Capital Markets Practice Group. He joined the Firm in 2011 as a trainee lawyer and rejoined as an associate in 2016. Prior to his return, Yves worked as an associate lecturer and researcher at the University of Zurich in the Research Priority Program "Financial Market Regulation." He was awarded the Professor Walther Hug Prize and the Issekutz Prize for his dissertation in the field of bank insolvencies (resolution). Yves completed a four-month full-time secondment with UBS, further developing his knowledge in the areas of bank regulation and capital markets.

Yves' clients give him "outstanding" reviews and describe him as "very hands-on, pragmatic and knowledgeable", a "really good executor" with "deep technical understanding which he can translate into legal solutions" (Chambers, 2024), as well as "very responsive, astute, trusted and commercial" (Chambers, 2022) and "very competent, knowledgeable and easy to work with" (The Legal 500 Guide, 2020).

Practice Focus

Yves' practice focuses on debt and equity capital markets as well as financial services regulation. He regularly represents issuers and underwriters on capital market transactions such as initial public offerings (IPOs), issuances of global depositary receipts (GDRs), capital increases as well as debt issuances. He also advises domestic and international clients on public takeovers and on compliance with securities laws. Furthermore, Yves represents financial intermediaries on regulatory matters and advises on the particular challenges posed by fintech business models, including applications of the distributed ledger technology (DLT). Yves regularly publishes articles in his fields of practice.

Representative Legal Matters

Advised UBS Investment Bank, SBI Digital Asset Holdings and DBS Bank on the world's first cross-border repo and natively-issued digital bond fully executed and settled on a public blockchain.
Represented SIX-listed DocMorris (formerly Zur Rose Group) on the CHF 360 million sale of its Swiss business to Medbase, a Migros subsidiary.
Acted for the issuer, underwriters or depositary bank in each of the four inaugural global depositary receipts (GDR) listings on SIX Swiss Exchange under China- Switzerland Stock Connect, consisting of the offerings by Gem Co., Gotion High-tech Co., Keda Industrial Group Co. and Ningbo Shanshan Co. with total proceeds of over USD 1.5 billion.
Advised UBS on its landmark USD 50 million offering of digital securities (tokenized notes).
Advised PSP Swiss Property AG on the conversion of its CHF 1.8 billion bond portfolio to green bonds based on the company's Green Bond Framework.
Acted for Skandinaviska Enskilda Banken (SEB) as depositary institution in the IPO of ABB spinoff Acceleron.
Acted for CLSA Limited in Joincare Pharmaceutical's GDR issuance.
Structured the first Special Purpose Acquisition Company (SPAC) under Swiss law and advised VT5 Acquisition Company, the first Swiss-listed SPAC, on its initial public offering.
Represented SIX-listed DocMorris (formerly Zur Rose Group) on their various accelerated book-buildings (ABB) with approximately CHF 450 million proceeds as well as the issuances of CHF 175 million and CHF 95 million convertible bonds and CHF 200 million straight bonds.
Advised SIX-listed Swiss Steel Group (formerly Schmolz+Bickenbach) on all legal aspects of its CHF 325 million recapitalization through a rights offering, including negotiations with key shareholders and public takeover clearance.
Acted as local and international counsel for Swiss Steel Group (formerly Schmolz+Bickenbach) on its initial issuance and tap issuance of EUR 350 million high-yield bonds.
Advised Feintool on its CHF 202 million rights offering.

Professional Honors

Up and Coming, Capital Markets, Chambers Global (2024)
Up and Coming, Capital Markets, Chambers Europe (ranked since 2023)
Rising Star, EMEA Equity Capital Markets, IFLR (2022)
Rising Star, Capital Markets – Switzerland, Expert Guides by the Legal Media Group (from 2020)

Professional Associations and Memberships

HSG Alumni - Member
CEIBS Alumni - Member
Zurich Bar Association - Member
Swiss Bar Association - Member

Admissions

Switzerland (2013)

Education

University of Zurich (Dr. iur. / PhD), (summa cum laude, Professor Walther Hug Prize, Issekutz Prize) (2017)
University of St. Gallen (M.A. HSG Accounting & Finance) (2015)
University of St. Gallen (M.A. HSG Law & Economics) (2012)
China Europe International Business School, Shanghai (MBA Exchange Student) (2010)
University of St. Gallen (B.A. HSG Law & Economics) (2009)
University of Geneva (Certificate in Transnational Law) (2008)

Languages

English
French
German
Spanish

Academic Journals and Books

Author, Basler Kommentar zum Bankengesetz, Articles 30b and 30c (Capital Measures and Restructuring Plan), 3rd ed., forthcoming (expected 2024)
Author, "Die Registrierungsvereinbarung," in: 95 Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht, December 2023, 683–698
Author, "Tokens als Effekten", in: 17 Gesellschafts- und Kapitalmarktrecht (2022) 183–194, June 2022
Co-author, "Bucheffekten auf der Blockchain", in: 16 Gesellschafts- und Kapitalmarktrecht (2021) 238–248, June 2021
Author, "Durchsetzung der FIDLEG-Normen – Vielschichtige Rechtsverwirklichung durch Eingriffsverwaltung, Privatrecht und Strafbewehrung", in: 16 Gesellschafts- und Kapitalmarktrecht (2021) 202–224, June 2021
Co-author, "New Swiss Financial Architecture: Enforcement of Claims by Financial Service Customers," International Briefings: Switzerland, in: Butterworths Journal of International Banking and Financial Law, 383–384, May 2021

Co-author, "New DLT Laws," in: International Briefings: Switzerland, in: Butterworths Journal of International Banking and Financial Law, 157–160, February 2021
Author, "Die neue Finanzmarktarchitektur – Das Wichtigste aus FIDLEG und FINIG," Berne 2020, § 2 (co-authored) and § 7
Author, "Bail-in bei systemrelevanten Banken," in: 14 Gesellschafts- und Kapitalmarktrecht (2019) 244–259
Co-author, "The New Swiss Fintech License," in: International Briefings: Switzerland, in: Butterworths Journal of International Banking and Financial Law, 354–356, May 2019
Author, "Bail-In and Total Loss-Absorbing Capacity (TLAC) – Legal and Economic Perspectives on Bank Resolution with Functional Comparisons of Swiss and EU Law," Wolters Kluwer International Banking and Finance Law Series, Vol. 32, ISBN 978-90-411-8998-1
Author, "Regulatory Aspects of Initial Coin Offerings (ICOs) in Switzerland," in: International Briefings: Switzerland, in: Butterworths Journal of International Banking and Financial Law, 269–272, April 2018
Author, "Die regulatorische Antwort auf FinTech: Evolution oder Revolution? Eine Verortung aktueller Entwicklungen," 89 Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht, December 2017, 810–830
Author, "Bedeutung des Immobilienmarkts für den Finanzsektor und die Finanzstabilität," in: Jans/Lengwiler/Passardi (eds), Krisenfeste Schweizer Banken? Die Regulierung von Eigenmitteln, Liquidität und ‹Too big to fail›, NZZ Libro, Zurich 2018, 387–425
Author, "The resolution of Swiss systemically important banks," International Briefings: Switzerland, in: Butterworths Journal of International Banking and Finance Law, 669–671, November 2017
Co-author, "Swiss FinTech Regulation on the Move," International Briefings: Switzerland, in: Butterworths Journal of International Banking and Financial Law, 329–330, May 2017
Co-author, "Rückerstattung von Leistungen nach Art. 678 OR," 87 Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht, August 2015, 199–208
Co-author, "Grundlagenirrtum bei Mängeln am Mietobjekt," 87 Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht, March 2015, 56–63
Author, "Systemrisiko aus dem Hypothekargeschäft," Hans Caspar von der Crone & Jean-Charles Rochet (eds.), Finanzstabilität: Status und Perspektiven, Schulthess: Zurich, November 2014, 291–336
Co-author, "Wie lange darf der Verwaltungsrat mit der Überschuldungsanzeige zuwarten?," SFSC 4A_251/2013, 86 Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht (2014) 227–239
Author, "Normenkonkurrenzen im Obligationenrecht – zugleich ein Beitrag zum Verhältnis von Irrtumsanfechtung und Sachmängelhaftung," 21 Aktuelle Juristische Praxis (2012) 933–952
Co-author, "Rechtsprobleme bei Motorfahrzeugen auf Flugplätzen," 19 Aktuelle Juristische Praxis (2010) 477–485

Other Magazines, Newspapers, Think Tank Reports and Journals

Author, "Tokenisierte Zahlungsmittel (CBDC, tokenisierte Einlagen, Stablecoins) und deren regulatorische Herausforderungen," e.foresight, February 2024
Co-author, "Regeln für automatisierte Kreditgewährung und flexible Kreditlimiten im DACH-Raum,ʺ e.foresight, July 2023
Co-author, "Investorenschutz im Kontext vertiefter Zugangshürden für Private-Equity-Anlagen,ʺ e.foresight, April 2023
Co-author, ʺNeue Regulierung von Kryptowerten in der EU mit ToFR und MiCA – ein Modell für die Schweiz?,ʺ e.foresight, November 2022
Co-author, ʺMetaverse-Report III: Ortsverhältnisse, Interaktionsmöglichkeit und rechtliche Implikationen,ʺ e.foresight, October 2022
Co-author, ʺKonkurstechnische Abwicklung bei durch digitale Assets besicherten Krediten und bei Emittenten von Derivaten auf digitale Assets,ʺ e.foresight, August 2022
Co-author, ʺMetaverse-Report II: Besitzübertragung von Digital Assets mit Fokus auf Erbgänge,ʺ e.foresight, August 2022
Co-author, ʺESG Investing – Internationale Entwicklungen und Szenarien für die Schweiz,ʺ e.foresight, June 2022
Co-author, ʺMetaverse Basics: Besitz- und Rechtsverhältnisse an Metaverse NFTs,ʺ e.foresight, April 2022
Co-author, ʺStaking und Staking-aaS unter dem schweizerischen Finanzmarktrecht,ʺ e.foresight, February 2022
Co-author, ʺBuy Now Pay Later (BNPL) – Ein Blick auf die rechtlichen Rahmenbedingungen in der Schweiz,ʺ e.foresight, January 2022
Co-author, ʺTokenisierung von Eigentum unter Schweizer Recht – Limitierungen und Lösungsansätze,ʺ e.foresight, October 2021
Co-author, ʺHandelbarkeit von Token als Registerwertrechte,ʺ e.foresight, February 2021
Co-author, ʺDas DLT-Handelssystem erhält rechtliche Grundlage,ʺ e.foresight, December 2020
Co-author, ʺEinsatz von Messengerdiensten bei Banken – Innovatives Element im Kundenkontakt oder juristische Stolperfalle?,ʺ e.foresight, June 2020
Co-author, "Regulatory Update 1/2020," e.foresight, March 2020
Co-author, "New Guidance Issued for Financial Institutions Involved in Digital Asset Custody and Trading," e.foresight, October 2019
Co-author, "Stolpersteine für die Handelbarkeit von Tokens," e.foresight, September 2019
Co-author, "Regulierung von Distributed Ledger Technologie-(DLT)-Handelssystemen," e.foresight, June 2019
Co-author, "Asset Tokens und Anlegerschutz," e.foresight, March 2019
Co-author, "Maschinenlesbare Regulierung und andere RegTech-Anwendungen in der Finanzbranche," e.foresight, February 2019
Co-author, "Rare but there," International Financial Law Review, March 2018, 1–3
Co-author, "Think ICO, think global," International Financial Law Review IFLR, July/August 2018
Co-author, "Smart Contracts: Theorie und Praxis," e.foresight, August 2018
Co-author, "Öffentliches Token-Angebot unter dem FIDLEG – Chancen und Risiken," e.foresight, August 2018
Co-author, "Banken sind grundsätzlich haftbar, wenn eigene Systeme mit künstlicher Intelligenz und Machine Learning Schäden verursachen," e.foresight, October 2018
Co-author, "ICOs in der Schweiz," e.foresight, February 2018
Author, "The New Swiss Fintech License," Brochure, Baker McKenzie Zurich, 2018
Author, "Blockchain und Initial Coin Offerings (ICOs) – eine neue Ära?," schulthess manager handbuch 2018/2019, 231–238
Co-author, "ICOs – A Legal Work Plan," Brochure, Baker McKenzie Zurich, 2017
Co-author, "ICO Regulation in Switzerland," Brochure, Baker McKenzie Zurich, 2017
Author, "Insurance Contract Law," Swiss Insurance and Reinsurance Laws, Baker McKenzie Zurich, 2017, 17–28
Co-author, "Rechtliches zu Kooperationen mit FinTech-Unternehmen," e.foresight, September 2017

Speaking Engagements

Co-speaker, "Preventive and reactive takeover defense," Baker McKenzie Capital Markets Webinar Series, 20 May 2024
Co-speaker, "The art of the takeover," Baker McKenzie Capital Markets Webinar Series, 15 May 2024
Speaker, "Digital Assets and the Role of Switzerland as a Crypto-Hub," Lecture in the 2024 Syracuse University Program, Geneva, 11 March 2024
Interviewee, "Kryptowährungen: Nur Zahlungsmittel oder auch Wertpapiere?" ("Cryptocurrencies: Only a means of payment or also securities?"), in: Echo der Zeit, SRF (Swiss national radio and television), 16 January 2024
Co-speaker, "Corporate Governance" and "Ongoing listing requirements," IPO DAY (Euronext), Zurich, 12 December 2023
Speaker, "Was bedeutet ESG für Sie und Ihr Unternehmen – die rechtliche Perspektive: Berichterstattungspflichten" (ESG reporting duties), Baker McKenzie Switzerland Client Seminar, 27 November 2023
Co-speaker, " Accelerated bookbuildings to help to sell larger blocks of existing shares," Baker McKenzie Capital Markets Webinar Series, 10 November 2023
Co-speaker, " Regulatory capital: CoCos, Write-down bonds and other instruments for financial institutions," Baker McKenzie Capital Markets Webinar Series, 20 October 2023
Co-speaker, "Convertible bonds," Baker McKenzie Capital Markets Webinar Series, 6 October 2023
Co-speaker, "Private placement of shares," Baker McKenzie Capital Markets Webinar Series, 22 September 2023
Speaker, "Was ist nun mit der Reportingpflicht für NFC-?", Baker McKenzie Event with SwissACT, Zurich, 20 September 2023
Co-speaker, "Special situations in capital increases: capital restructuring, underwritten refinancings and others," Baker McKenzie Capital Markets Webinar Series, 15 September 2023
Co-speaker, "The securitization of luxury goods", Baker McKenzie Wealth Management Meeting, Thun, 23 June 2023 (forthcoming)
Co-speaker, "Tax, regulatory and compliance issues for digital banks and exchanges", Baker McKenzie Wealth Management Meeting, Thun, 22 June 2023 (forthcoming)
Speaker, "DeFi – useful addition to the market or unjustified regulatory arbitrage?," Baker McKenzie Geneva Fit for Finance Webinar, 30 March 2023
Speaker, "DeFi – sinnvolle Ergänzung des Markts oder ungerechtfertigte regulatorische Arbitrage?," Baker McKenzie Fit for Finance Seminar, 31 January 2023
Speaker, "Regulation of digital assets," University of St. Gallen (HSG) Executive Seminar, Zug, 16 December 2022
Speaker, "Das neue Aktienrecht für kotierte Unternehmen", Baker McKenzie Switzerland Client Seminar, 31 October 2022
Speaker, "Alternative Investors and Capital Raising for Family or Private Business," Baker McKenzie Wealth Management Meeting, Saas-Fee, September 2021
Speaker, "Ukraine-Sanktionen und ihre Bedeutung für die Banking-Praxis", Baker McKenzie Client Roundtable, 31 May 2022
Co-speaker, New Swiss Regulation on Distributed Ledger Technology (DLT), Baker McKenzie Webinar, 2 June 2021
Co-speaker, Neue Regulierung zur Distributed Ledger Technology (DLT), Baker McKenzie Webinar, 19 May 2021
Co-speaker, "Auskunft und Einsicht sowie Sonderuntersuchung," Baker McKenzie Webinar Series for Listed Companies, 15 January 2021
Co-speaker, "Ablauf der Kapitalherabsetzung und Zusammenlegung von börsenkotierten Aktien," Baker McKenzie Webinar Series for Listed Companies, 27 November 2020
Co-speaker, "Buchführung in Fremdwährung und Neuerungen im Dividendenrecht," Baker McKenzie Webinar Series for Listed Companies, 30 October 2020
Co-speaker, "Einberufung und Durchführung der Generalversammlung," Baker McKenzie Webinar Series for Listed Companies, 16 October 2020
Co-speaker, "The New Swiss Approval Process and its Implication on Timing for Swiss Offerings," Baker McKenzie Webinar Series for Finance Professionals, 24 April 2020
Co-speaker, "Key Aspects of High Yield Bonds," Baker McKenzie Webinar Series for Finance Professionals, 17 April 2020
Co-speaker, "Prospectus Amendments under the New Swiss Rules," Baker McKenzie Webinar Series for Finance Professionals, 9 April 2020
Co-speaker, "Swiss Exceptions from the Prospectus Requirement, Content Exceptions and Information Obligations in Case of Prospectus Exceptions," Baker McKenzie Webinar Series for Finance Professionals, 3 April 2020
Co-speaker, "Tokenization – What Happens when Serious Players Start to Act: the Example of Brickmark," Baker McKenzie Webinar Series for Finance Professionals, 27 March 2020
Co-speaker, "Insurtech," Baker McKenzie FinTech Panel, 25 February 2020
Speaker, "When things go wrong after the ICO," Baker McKenzie After-work Seminar, 28 November 2019
Speaker, "Immobilien auf der Blockchain," Baker McKenzie Breakfast Briefing, 27 November 2019
Speaker, "Distributed Ledgers as Regulatory Technology," Baker McKenzie Wealth Management Meeting, Saas-Fee, July 2018
Speaker, "FinTech Landscape on the Move," Baker McKenzie Business Briefing, Zurich, June 2018
Speaker, "Bail-in unter Schweizer Recht – Status und ungelöste Problemfelder," EIZ Vortragsreihe am Mittag, Credit Suisse Forum St. Peter, 26 January 2018
Speaker, "Blockchain – Anwendungen bei syndizierten Krediten," Baker McKenzie Roundtable, January 2018
Speaker, "Tech StartUps: Herausforderungen bei der Kommerzialisierung innovativer Technologien," BakerDigital Briefing, Baker McKenzie, 13 June 2017
Speaker, "FinTech: Chancen und Risiken aus Sicht der Bank," BakerDigital Briefing, Baker McKenzie, 16 May 2017
Speaker, "Legal and Economic Aspects of Bank Bail-ins," URRP Financial Regulation Brown Bag Lunch, University of Zurich, December 2015
Speaker, "Systemrisiko aus dem Hypothekengeschäft," URRP Financial Regulation Annual Conference, University of Zurich, June 2014
Speaker, "High Frequency Trading," URRP Financial Regulation Brown Bag Lunch, University of Zurich, May 2014