Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 14 para. 1 Fin­IA)

¹Fin­an­cial in­sti­tu­tions may del­eg­ate to third parties only tasks in ac­cord­ance with Art­icle 14 para­graph 1 Fin­IA which do not need to be with­in the de­cision-mak­ing re­mit of the body re­spons­ible for man­age­ment or for gov­ernance, su­per­vi­sion and con­trol.

²Del­eg­a­tion must not im­pair the ap­pro­pri­ate­ness of the op­er­a­tion­al or­gan­isa­tion.

³The op­er­a­tion­al or­gan­isa­tion is no longer deemed to be ap­pro­pri­ate if a fin­an­cial in­sti­tu­tion:

a.

does not have the ne­ces­sary per­son­nel re­sources and spe­cial­ist know­ledge to se­lect, in­struct and mon­it­or the third party and man­age the as­so­ci­ated risks, or

b.

does not have the ne­ces­sary rights to is­sue in­struc­tions to or con­trol the third party.