Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 52 para. 1 and 53 Fin­IA)

¹The for­eign fin­an­cial in­sti­tu­tion must have:

a.

au­thor­isa­tion and su­per­vi­sion at least equi­val­ent to the au­thor­isa­tion and su­per­vi­sion re­ques­ted for the branch in Switzer­land;

b.

col­lat­er­al which is com­par­able to that in ac­cord­ance with:

1.

Art­icles 22 and 23 Fin­IA in the case of for­eign fin­an­cial in­sti­tu­tions which man­age as­sets or act as a trust­ee (Art­icle 52 para­graph 1 let­ter a Fin­IA),

2.

Art­icles 28, 29, 36 and 37 Fin­IA in the case of for­eign fin­an­cial in­sti­tu­tions which per­form fund busi­ness, port­fo­lio man­age­ment for col­lect­ive in­vest­ment schemes or port­fo­lio man­age­ment for oc­cu­pa­tion­al pen­sion schemes (Art­icle 52 para­graph 1 let­ter b Fin­IA),

3.

Art­icles 45–47 Fin­IA in the case of for­eign fin­an­cial in­sti­tu­tions which trade se­cur­it­ies, ex­ecute trans­ac­tions or man­age cli­ent ac­counts (Art­icle 52 para­graph 1 let­ters c–e Fin­IA).

²The branch must:

a.

com­ply with the stand­ards of the FinSA⁴³ if it provides fin­an­cial ser­vices in ac­cord­ance with Art­icle 3 let­ter c FinSA;

b.

com­ply with the con­di­tions in ac­cord­ance with Art­icle 20 Fin­IA in the case of for­eign fin­an­cial in­sti­tu­tions which man­age as­sets or act as a trust­ee (Art­icle 52 para­graph 1 let­ter a Fin­IA);

c.

be sub­ject to su­per­vi­sion:

1.

in ac­cord­ance with Art­icles 61 and 62 Fin­IA in the case of for­eign fin­an­cial in­sti­tu­tions which man­age as­sets or act as a trust­ee,

2.

in ac­cord­ance with Art­icles 61 and 63 Fin­IA in the case of for­eign fin­an­cial in­sti­tu­tions in ac­cord­ance with Art­icle 52 para­graph 1 let­ters b–e Fin­IA.

³The for­eign fin­an­cial in­sti­tu­tion may only ap­ply for entry of the branch in the com­mer­cial re­gister when FINMA has gran­ted said fin­an­cial in­sti­tu­tion au­thor­isa­tion to es­tab­lish the branch.