Ordinance of the Swiss Financial Market Supervisory Authority on the Insolvency of Banks and Securities Dealers

¹The re­quire­ments set out in Art­icle 12 para. 2^bis BO² in con­junc­tion with Art­icle 56 must be met:

a.

with­in twelve months of this amend­ment com­ing in­to ef­fect for the con­clu­sion or amend­ment of con­tracts with banks and se­cur­it­ies deal­ers or with coun­ter­parties who would qual­i­fy as such if they were dom­i­ciled in Switzer­land;

b.

with­in 18 months of this amend­ment com­ing in­to ef­fect for the con­clu­sion or amend­ment of con­tracts with oth­er coun­ter­parties.

² FINMA may ex­tend the im­ple­ment­a­tion dead­line for in­di­vidu­al in­sti­tu­tions where this is jus­ti­fied.