Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 74 Fin­IA)

¹Art­icle 5 para­graph 2 Fin­IA is not ap­plic­able to fin­an­cial in­sti­tu­tions which on entry in­to force of the Fin­IA are already entered in the com­mer­cial re­gister.

²Fin­an­cial in­sti­tu­tions which provide ser­vices in ac­cord­ance with the FinSA⁵⁰ must be af­fil­i­ated to the om­buds­man's of­fice with­in six months of the Fed­er­al De­part­ment of Fin­ance re­cog­nising or es­tab­lish­ing for them an om­buds­man's of­fice in ac­cord­ance with Art­icle 84 FinSA. The peri­od is deemed met on sub­mis­sion of the ap­plic­a­tion.

³Fin­an­cial in­sti­tu­tions that have their re­gistered of­fice abroad and by reas­on of a branch or rep­res­ent­a­tion in Switzer­land already hold au­thor­isa­tion are not re­quired to sub­mit a new ap­plic­a­tion for au­thor­isa­tion. They must sat­is­fy the leg­al re­quire­ments with­in one year of entry in­to force.

⁴Fin­an­cial in­sti­tu­tions that have their re­gistered of­fice abroad and by reas­on of a branch or rep­res­ent­a­tion in Switzer­land are newly re­quired to ob­tain au­thor­isa­tion pur­su­ant to the Fin­IA shall re­port to FINMA with­in six months of entry in­to force. They must sat­is­fy the leg­al re­quire­ments and sub­mit an ap­plic­a­tion for au­thor­isa­tion with­in three years of entry in­to force. They may con­tin­ue their activ­it­ies un­til a de­cision on au­thor­isa­tion is made.

⁵Art­icle 77 para­graph 3 is not ap­plic­able to branches which on entry in­to force of the Fin­IA are already entered in the com­mer­cial re­gister.

⁶Ex­emp­tions gran­ted by FINMA based on Art­icle 18 para­graph 3 CISA⁵¹ in the ver­sion of 28 Septem­ber 2012⁵² to man­agers of col­lect­ive in­vest­ment schemes re­main val­id un­der Art­icle 7 of the present Or­din­ance.