Ordinance
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Art. 53 Independence
(Art. 33 para. 3 FinIA) 1Simultaneous membership of the body responsible for governance, supervision and control of the fund management company and that of the custodian bank is permitted. 2Simultaneous membership of the body responsible for management of the fund management company and that of the custodian bank is not permitted. 3The majority of the members of the body responsible for governance, supervision and control of the fund management company must be independent of the persons at the custodian bank who are tasked with the duties in accordance with Article 73 CISA22. Persons at the custodian bank at management level tasked with duties in accordance with Article 73 CISA are not deemed to be independent. 4None of the authorised signatories of the fund management company may at the same time be responsible at the custodian bank for duties in accordance with Article 73 CISA. |