Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 11 Fin­IA)

¹The ap­plic­a­tion for au­thor­isa­tion for a new fin­an­cial in­sti­tu­tion must con­tain in par­tic­u­lar the fol­low­ing in­form­a­tion and doc­u­ment­a­tion on the per­sons re­spons­ible for ad­min­is­tra­tion and man­age­ment in ac­cord­ance with Art­icle 11 para­graphs 1 and 2 Fin­IA as well as on the own­ers of a qual­i­fied par­ti­cip­a­tion in ac­cord­ance with Art­icle 11 para­graph 3 Fin­IA:

a.

nat­ur­al per­sons:

1.

de­tails of na­tion­al­ity, place of res­id­ence, qual­i­fied par­ti­cip­a­tions in the fin­an­cial in­sti­tu­tion or in oth­er com­pan­ies and pending court and ad­min­is­trat­ive pro­ceed­ings,

2.

a cur­riculum vitae signed by the rel­ev­ant per­son,

3.

ref­er­ences,

4.¹²

a stand­ard private ex­tract from the VOSTRA in­form­a­tion sys­tem of the Re­gister of Crim­in­al Re­cords and an ex­tract from the debt en­force­ment re­gister or cor­res­pond­ing con­firm­a­tion if the per­son is res­id­ent abroad;

b.

com­pan­ies:

1.

the art­icles of as­so­ci­ation,

2.

an ex­tract from the com­mer­cial re­gister or a cor­res­pond­ing at­test­a­tion,

3.

a de­scrip­tion of busi­ness activ­it­ies, the fin­an­cial situ­ation and, if ap­plic­able, the group struc­ture,

4.

de­tails of com­pleted and pending court or ad­min­is­trat­ive pro­ceed­ings.

²The en­vis­aged activ­ity at the fin­an­cial in­sti­tu­tion as well as the nature of the in­ten­ded in­vest­ments must also be taken in­to ac­count when as­sess­ing the good repu­ta­tion, the guar­an­tee of ir­re­proach­able busi­ness con­duct and the re­quired spe­cial­ist qual­i­fic­a­tions of the per­sons re­spons­ible for ad­min­is­tra­tion and man­age­ment.

³Own­ers of a qual­i­fied par­ti­cip­a­tion must make a de­clar­a­tion to FINMA stat­ing wheth­er they hold the par­ti­cip­a­tion in ques­tion for their own ac­count or on a fi­du­ciary basis for third parties, and wheth­er they have gran­ted op­tions or sim­il­ar rights with re­spect to this par­ti­cip­a­tion.

⁴Se­cur­it­ies firms must sub­mit to FINMA with­in 60 days of the end of the fin­an­cial year a list of all per­sons who hold a qual­i­fied par­ti­cip­a­tion in them. This list shall con­tain de­tails on the iden­tity and per­cent­age hold­ing of all qual­i­fied par­ti­cipants as at the rel­ev­ant clos­ing date, as well as any changes re­l­at­ive to the pri­or-year clos­ing date. In ad­di­tion, the in­form­a­tion and doc­u­ment­a­tion set out in para­graph 1 is to be sub­mit­ted for any qual­i­fied par­ti­cipants be­ing re­por­ted for the first time.

⁵Per­sons con­nec­ted through busi­ness ties or in any oth­er man­ner who jointly hold at least 10% of the share cap­it­al or votes of the fin­an­cial in­sti­tu­tion or per­sons jointly sig­ni­fic­antly in­flu­en­cing the busi­ness activ­it­ies of the fin­an­cial in­sti­tu­tion in an­oth­er man­ner are deemed to be a qual­i­fied par­ti­cipant in ac­cord­ance with Art­icle 11 para­graph 4 Fin­IA.