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

¹FINMA shall is­sue a rul­ing ap­point­ing a bank­ruptcy li­quid­at­or un­less it is to carry out the li­quid­at­or's du­ties it­self.

²Where FINMA ap­points a bank­ruptcy li­quid­at­or, it must en­sure when mak­ing its choice that the li­quid­at­or has suf­fi­cient time and ex­pert­ise to per­form the man­date di­li­gently, ef­fi­ciently and ef­fect­ively and is not sub­ject to any con­flict of in­terests that might com­prom­ise his or her abil­ity to per­form the man­date.

³It spe­cifies the de­tails of the task, in par­tic­u­lar re­gard­ing the bank­ruptcy li­quid­at­or’s costs, re­port­ing and con­trol.