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


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Art. 21 Risk management and internal control

1 Port­fo­lio man­agers and trust­ees must have an ap­pro­pri­ately defined risk man­age­ment sys­tem in place as well as an ef­fect­ive in­tern­al con­trol struc­ture to en­sure, among oth­er re­quire­ments, com­pli­ance with leg­al and in­tern­al pro­vi­sions.

2 The tasks of risk man­age­ment and in­tern­al con­trol may be car­ried out by a qual­i­fied man­ager or del­eg­ated to one or more suit­ably qual­i­fied em­ploy­ees or to a qual­i­fied ex­tern­al en­tity.

3 Per­sons who carry out the tasks of risk man­age­ment and in­tern­al con­trol may not be in­volved in the activ­it­ies which they su­per­vise.

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