Federal Act on the Swiss Financial Market Supervisory Authority

¹If FINMA de­tects a ser­i­ous vi­ol­a­tion of su­per­vis­ory pro­vi­sions, it may pro­hib­it the per­son re­spons­ible from act­ing in a man­age­ment ca­pa­city at any per­son or en­tity sub­ject to its su­per­vi­sion.

²The pro­hib­i­tion from prac­tising a pro­fes­sion may be im­posed for a peri­od of up to five years.

Art. 33a¹ Pro­hib­i­tion from per­form­ing an activ­ity

¹Where the fol­low­ing per­sons ser­i­ously vi­ol­ate the pro­vi­sions of the fin­an­cial mar­ket acts, the im­ple­ment­ing pro­vi­sions or in-house dir­ect­ives, FINMA may pro­hib­it such per­sons from trad­ing in fin­an­cial in­stru­ments or act­ing as a cli­ent ad­viser for a fixed peri­od, or per­man­ently in the case of re­peated of­fences:

a.

em­ploy­ees of a su­per­vised en­tity re­spons­ible for trad­ing in fin­an­cial in­stru­ments;

b.

em­ploy­ees of a su­per­vised en­tity act­ing as cli­ent ad­visers.

²If the pro­hib­ited activ­ity also cov­ers an activ­ity in an area un­der the su­per­vi­sion of an­oth­er su­per­vis­ory au­thor­ity, this au­thor­ity is to be con­sul­ted and in­formed of the de­cision.