Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 9 Fin­IA)

¹Se­cur­it­ies firms must be able to be rep­res­en­ted by a per­son who has their place of res­id­ence in Switzer­land. This per­son must be a mem­ber of the body re­spons­ible for man­age­ment or of the body re­spons­ible for gov­ernance, su­per­vi­sion and con­trol.

²The body re­spons­ible for man­age­ment must com­prise at least two per­sons.

³Firms trad­ing for the ac­count of cli­ents and firms act­ing as mar­ket makers with­in the mean­ing of Art­icle 41 let­ters a and c Fin­IA must ap­point a spe­cial body re­spons­ible for gov­ernance, su­per­vi­sion and con­trol. Its mem­bers may not be mem­bers of the body re­spons­ible for man­age­ment.

⁴Where there are le­git­im­ate grounds for so do­ing, FINMA may al­low re­lax­a­tions of these re­quire­ments or it may im­pose more strin­gent re­quire­ments.