Ordinance
on Financial Institutions
(Financial Institutions Ordinance, FinIO)

(Art. 52 para. 1 and 53 Fin­IA)

¹If a for­eign fin­an­cial in­sti­tu­tion es­tab­lishes mul­tiple branches in Switzer­land, it must:

a.

ob­tain au­thor­isa­tion for each one;

b.

des­ig­nate one among them which is re­spons­ible for re­la­tions:

1.

with FINMA and the su­per­vis­ory or­gan­isa­tion in the case of Art­icle 52 para­graph 1 let­ter a Fin­IA,

2.

with FINMA in the case of Art­icle 52 para­graph 1 let­ters b–e Fin­IA.

²These branches must jointly meet the con­di­tions of the Fin­IA and the present Or­din­ance. An audit re­port is suf­fi­cient.