Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 24 para. 1 and 2 Fin­IA)

¹If a man­ager ex­ceeds a threshold in ac­cord­ance with Art­icle 24 para­graph 2 Fin­IA, it shall no­ti­fy FINMA to that ef­fect with­in 10 days.

²The man­ager must sub­mit to the lat­ter an ap­plic­a­tion for au­thor­isa­tion pur­su­ant to Art­icle 24 para­graph 1 Fin­IA with­in 90 days if, dur­ing this peri­od, they have not made changes to their busi­ness mod­el which make a re­newed ex­ceed­ing of the thresholds ap­pear un­likely.

³If changes are made to the busi­ness mod­el with­in the mean­ing of para­graph 2 dur­ing an on­go­ing au­thor­isa­tion pro­ced­ure, the au­thor­isa­tion pro­ced­ure will be rendered un­ne­ces­sary.