Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 33 para. 3 Fin­IA)

¹Sim­ul­tan­eous mem­ber­ship of the body re­spons­ible for gov­ernance, su­per­vi­sion and con­trol of the fund man­age­ment com­pany and that of the cus­todi­an bank is per­mit­ted.

²Sim­ul­tan­eous mem­ber­ship of the body re­spons­ible for man­age­ment of the fund man­age­ment com­pany and that of the cus­todi­an bank is not per­mit­ted.

³The ma­jor­ity of the mem­bers of the body re­spons­ible for gov­ernance, su­per­vi­sion and con­trol of the fund man­age­ment com­pany must be in­de­pend­ent of the per­sons at the cus­todi­an bank who are tasked with the du­ties in ac­cord­ance with Art­icle 73 CISA²³. Per­sons at the cus­todi­an bank at man­age­ment level tasked with du­ties in ac­cord­ance with Art­icle 73 CISA are not deemed to be in­de­pend­ent.

⁴None of the au­thor­ised sig­nat­or­ies of the fund man­age­ment com­pany may at the same time be re­spons­ible at the cus­todi­an bank for du­ties in ac­cord­ance with Art­icle 73 CISA.