Patrick Schleiffer

Lenz & Staehelin

Zurich www.lenzstaehelin.com

patrick.schleiffer@lenzstaehelin.com Tel: +41 58 450 80 00

Biography

Dr Patrick Schleiffer is co-head of the capital markets group in Lenz & Staehelin's Zurich office and a leading and recognised expert in financial market law, particularly capital markets, stock exchange and securities law, investment fund law, financial services regulation, corporate law and corporate governance. Patrick Schleiffer lectures on capital markets and securities law at the University of Zurich, is a regular speaker at conferences and co-editor of the Swiss internet-based newsletter "CapLaw". He currently serves as the website officer of the securities law committee of the International Bar Association (IBA) and is on the board of a regulated supervisory organisation in charge of the ongoing prudential supervision of portfolio managers and trustees in Switzerland.

What motivated you to specialise in capital market law?

Capital markets law requires lawyers not only to understand the law but also the financial and economic background of a transaction. When drafting a prospectus for a capital market transaction, you also need to understand the business and strategy of the issuer as well as the industry and markets in which the issuer operates. This makes the job of a capital markets lawyer exciting and diverse.

What do clients look for when selecting their counsel?

In my experience, they look for lawyers who have an efficient team with an exceptional understanding of the law and is at the same time pragmatic, responsive and committed to meet all deadlines from the kick-off to the closing.

What are the main challenges currently facing those working in the Swiss banking and finance space?

As regulatory burdens become heavier, applicable laws and regulations more complex and the pace of change of such laws and regulations is increasing, a major challenge is to stay up-to-date, monitor all ongoing legal and regulatory developments in the banking and finance space and taking into account such developments when advising clients.

How is the increasing prominence of cryptocurrency and digital assets shaping the finance sector? How do you think regulators will adapt accordingly?

By applying the same risks, same rules principle and following a technologyneutral approach, the Swiss legislator has recently amended various laws and regulations in the field of digital assets and distributed ledger technology. One major challenge in this context is to determine under what circumstances digital assets qualify as securities and thus fall within the scope of the traditional laws and regulations dealing with securities.

What qualities distinguish Lenz & Staehelin from its competitors in the market?

The firm maintains equally sized offices in the German and French-speaking part of Switzerland, which results in a unique combination of professionalism and a very strong values and teamwork-oriented culture committed to providing clients with excellent advice.

What is the most memorable case that you have been a part of to date?

Each transaction is unique and memorable on its own, but the type of transactions I like best are IPOs as they not only require excellent legal skills but also organisational skills when transforming a closely held company to a listed company.

What key skills and traits would you encourage in the next generation of banking and capital market lawyers?

Be curious and always eager to learn, ask questions and listen to your client to understand its needs and business in order to enable you to reduce (legal) complexity and present viable solutions (and not problems) to your client.

WWL says: Patrick Schleiffer is highly praised for his deep knowledge of capital markets transactions and regulations, with market sources noting that he is “a very talented and effective lawyer”.