Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 3 and 17 Fin­IA)

¹Port­fo­lio man­agers and trust­ees are deemed to pur­sue their activ­it­ies on a com­mer­cial basis and, with­in the mean­ing of anti-money laun­der­ing le­gis­la­tion, on a pro­fes­sion­al basis if they:

a.

thereby gen­er­ate gross earn­ings of more than CHF 50,000 per cal­en­dar year;

b.

es­tab­lish busi­ness re­la­tion­ships with more than 20 con­trac­tu­al part­ners per cal­en­dar year, each of which re­la­tion­ships is not lim­ited to a once-only activ­ity, or they main­tain at least 20 such re­la­tion­ships per cal­en­dar year; or

c.

have un­lim­ited power of dis­pos­al over as­sets be­long­ing to oth­ers, which as­sets ex­ceed CHF 5 mil­lion at any giv­en time.

²Activ­it­ies for schemes and per­sons in ac­cord­ance with Art­icle 2 para­graph 2 let­ters a, b, d and e Fin­IA are not factored in­to the as­sess­ment of com­mer­ci­al­ity.

³Para­graphs 1 and 2 do not ap­ply to port­fo­lio man­agers in ac­cord­ance with Art­icle 24 para­graph 2 Fin­IA.