Federal Act
on Financial Institutions
(Financial Institutions Act, FinIA)

¹ The fin­an­cial in­sti­tu­tion and the per­sons re­spons­ible for its ad­min­is­tra­tion and man­age­ment must provide a guar­an­tee of ir­re­proach­able busi­ness con­duct.

² Moreover, the per­sons re­spons­ible for the ad­min­is­tra­tion and man­age­ment of the fin­an­cial in­sti­tu­tion must en­joy a good repu­ta­tion and have the spe­cial­ist qual­i­fic­a­tions re­quired for their func­tions.

³ Qual­i­fied par­ti­cipants in a fin­an­cial in­sti­tu­tion must also en­joy a good repu­ta­tion and en­sure that their in­flu­ence is not det­ri­ment­al to prudent and sound busi­ness activ­ity.

⁴ Per­sons who dir­ectly or in­dir­ectly hold at least 10% of the share cap­it­al or votes or who can sig­ni­fic­antly in­flu­ence its busi­ness activ­ity in an­oth­er man­ner are deemed to be qual­i­fied par­ti­cipants in a fin­an­cial in­sti­tu­tion.

⁵ Each per­son must no­ti­fy FINMA be­fore dir­ectly or in­dir­ectly ac­quir­ing or dis­pos­ing of a qual­i­fied par­ti­cip­a­tion in ac­cord­ance with para­graph 4 in a fin­an­cial in­sti­tu­tion. This man­dat­ory no­ti­fic­a­tion also ap­plies if a qual­i­fied par­ti­cip­a­tion is in­creased or re­duced in such a way as to reach, ex­ceed or fall be­low the thresholds of 20%, 33% or 50% of the share cap­it­al or votes.

⁶ The fin­an­cial in­sti­tu­tion shall no­ti­fy FINMA of the per­sons who meet the con­di­tions of para­graph 5 as soon as it be­comes aware of the same.

⁷ Port­fo­lio man­agers and trust­ees are ex­empt from the re­quire­ments of para­graphs 5 and 6.

⁸ Qual­i­fied par­ti­cipants in port­fo­lio man­agers and trust­ees are per­mit­ted to per­form man­age­ment du­ties