Ordinance
on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading
(Financial Market Infrastructure Ordinance, FinMIO)

(Art. 116 and 117 Fin­MIA)

¹ In the case of non-fin­an­cial coun­ter­parties, the aud­it­or shall re­view wheth­er these coun­ter­parties have taken meas­ures, in par­tic­u­lar to com­ply with the de­riv­at­ives trad­ing du­ties set out in Art­icle 113 para­graph 1 let­ters a to e.

² When car­ry­ing out its audit, it shall take ac­count of the prin­ciples of risk-ori­ented re­view and ma­ter­i­al­ity.

³ The aud­it­or in ac­cord­ance with Art­icle 727 of the Swiss Code of Ob­lig­a­tions⁴⁷ (CO) shall set out the res­ults of its audit in a com­pre­hens­ive re­port for the board of dir­ect­ors in ac­cord­ance with Art­icle 728b para­graph 1 CO.

⁴ The aud­it­or in ac­cord­ance with Art­icle 727a CO shall in­form the re­spons­ible body of the audited com­pany of the res­ults of the audit.

⁵ If the aud­it­or iden­ti­fies vi­ol­a­tions of the pro­vi­sions on de­riv­at­ives trad­ing, it shall in­cor­por­ate these in­to its re­port in ac­cord­ance with para­graphs 3 and 4. It shall set a dead­line for rec­ti­fic­a­tion of the re­por­ted vi­ol­a­tions.

⁶ If the audited com­pany has not ex­ecuted any de­riv­at­ives trans­ac­tions dur­ing the audit peri­od and no de­riv­at­ives trans­ac­tions are out­stand­ing at the end of this peri­od, the re­ports re­quired un­der para­graphs 3 and 4 may be waived.

⁷ The aud­it­or shall re­port the vi­ol­a­tions to the FDF if the com­pany does not rem­edy the vi­ol­a­tions in ac­cord­ance with para­graph 5 by the dead­line set, or if it re­peats these vi­ol­a­tions.