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

(Art. 37 paras. 1 to 3 Fin­MIA)

¹ The ap­peal body shall be in­de­pend­ent in its ad­ju­dic­a­tion and bound only by the law.

² The mem­bers may not be­long to the body re­spons­ible for the ad­mis­sion of se­cur­it­ies to trad­ing, nor may they be in an em­ploy­ment re­la­tion­ship or any oth­er con­trac­tu­al re­la­tion­ship with the trad­ing ven­ue that could lead to con­flicts of in­terest.

³ The pro­vi­sions of the Fed­er­al Su­preme Court Act of 17 June 2005¹⁴ on re­cus­al ap­ply to the mem­bers of the in­de­pend­ent ap­peal body.

⁴ The reg­u­la­tions con­cern­ing the in­de­pend­ent ap­peal body shall con­tain guidelines with re­spect to com­pos­i­tion, elec­tion, or­gan­isa­tion and pro­ceed­ings be­fore the ap­peal body.