Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 9 and 33 Fin­IA)

¹The body re­spons­ible for gov­ernance, su­per­vi­sion and con­trol must com­prise at least three mem­bers.

²The ma­jor­ity of the mem­bers of this body may not also be mem­bers of the body re­spons­ible for man­age­ment.

³The chair may not at the same time hold the of­fice of chair of the body re­spons­ible for man­age­ment.

⁴At least one third of mem­bers must be in­de­pend­ent of the per­sons who hold a qual­i­fied par­ti­cip­a­tion in the fund man­age­ment com­pany and in com­pan­ies of the same group. Fund man­age­ment com­pan­ies which are part of a fin­an­cial group sub­ject to con­sol­id­ated su­per­vi­sion by FINMA are ex­emp­ted.

⁵Where there are le­git­im­ate grounds for so do­ing, FINMA may al­low re­lax­a­tions of these re­quire­ments or it may im­pose more strin­gent re­quire­ments.