Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 9 Fin­IA)

¹The ma­jor­ity of the mem­bers of the body re­spons­ible for gov­ernance, su­per­vi­sion and con­trol may not be mem­bers of the body re­spons­ible for man­age­ment.

²The chair may not at the same time hold the of­fice of chair of the body re­spons­ible for man­age­ment.

³At least one third of mem­bers must be in­de­pend­ent of the per­sons who hold a qual­i­fied par­ti­cip­a­tion in the man­ager of col­lect­ive as­sets and in com­pan­ies of the same con­glom­er­ate or group. Man­agers of col­lect­ive as­sets which are part of a fin­an­cial group sub­ject to con­sol­id­ated su­per­vi­sion by FINMA are ex­emp­ted.

⁴Where there are le­git­im­ate grounds for so do­ing, FINMA may al­low de­par­tures from these re­quire­ments.