Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 14 and 27 Fin­IA)

¹Wheth­er a del­eg­a­tion of in­vest­ment de­cisions is deemed to have the ne­ces­sary au­thor­isa­tion in ac­cord­ance with Art­icle 14 para­graph 1 Fin­IA is de­term­ined in ac­cord­ance with Art­icle 24 Fin­IA. For­eign man­agers of col­lect­ive as­sets must be sub­ject to au­thor­isa­tion and su­per­vi­sion which is at least equi­val­ent.

²Where for­eign law re­quires an agree­ment on co­oper­a­tion and the ex­change of in­form­a­tion with the for­eign su­per­vis­ory au­thor­it­ies, in­vest­ment de­cisions may only be del­eg­ated to man­agers of col­lect­ive as­sets abroad if such an agree­ment is in place between FINMA and the for­eign su­per­vis­ory au­thor­it­ies rel­ev­ant for the re­spect­ive in­vest­ment de­cisions.