Switzerland & United States — United States Securities and Exchange Commission

Switzerland: Switzerland is the home country of Holcim, the seller of the stake in Lafarge Africa.

United States — United States Securities and Exchange Commission: Regulatory agency; reviewed the transaction for compliance; urged to maintain oversight.

Switzerland: Switzerland, as UBS's home country, faces reputational spillover from the fine, though UBS remains a major global bank.

United States — United States Securities and Exchange Commission: The SEC brought parallel charges that were resolved as part of the settlement, contributing to the overall penalty.

Switzerland: Switzerland is one of the European countries where SpaceX plans to offer shares to individual investors as part of its IPO.

United States — United States Securities and Exchange Commission: SpaceX>>> filed its IPO prospectus with the United States — United States Securities and Exchange Commission>>> (SEC), a mandatory legal document for companies going public. The SEC's review process influenced the IPO timeline.

Switzerland: Switzerland is mentioned as planning to adopt T+1 in October 2027, indicating a global trend towards shorter settlement cycles.

United States — United States Securities and Exchange Commission: The United States — United States Securities and Exchange Commission is a key regulator that has already implemented a T+1 settlement cycle, serving as a benchmark for Nigeria's capital market modernization.

Switzerland: Garmin Enduro 3 Ltd. is incorporated in Switzerland, but the event has no direct impact on the country.

United States — United States Securities and Exchange Commission: The SEC is mentioned in forward-looking statements in the press release, but the event has no direct impact on the agency.