Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 52 para. 1 Fin­IA)

¹A for­eign fin­an­cial in­sti­tu­tion is any com­pany or­gan­ised in ac­cord­ance with for­eign le­gis­la­tion and which:

a.

pos­sesses au­thor­isa­tion abroad as a fin­an­cial in­sti­tu­tion;

b.

in the com­pany name, in the de­scrip­tion of its busi­ness pur­pose or in com­mer­cial doc­u­ments uses terms in ac­cord­ance with Art­icle 13 para­graph 2 Fin­IA or a term of sim­il­ar mean­ing; or

c.

op­er­ates a fin­an­cial in­sti­tu­tion with­in the mean­ing of Art­icle 2 para­graph 1 Fin­IA.

²If the for­eign fin­an­cial in­sti­tu­tion is ef­fect­ively man­aged from Switzer­land or if it ex­ecutes its trans­ac­tions ex­clus­ively or pre­dom­in­antly in or from Switzer­land, it must be or­gan­ised in ac­cord­ance with Swiss le­gis­la­tion and be sub­ject to the pro­vi­sions gov­ern­ing do­mest­ic fin­an­cial in­sti­tu­tions.³⁶