Federal Act
on the Swiss Financial Market Supervisory Authority
(Financial Market Supervision Act, FINMASA)

¹ In ac­cord­ance with the fin­an­cial mar­ket acts (Art. 1 para. 1), FINMA car­ries out the audit either it­self or ar­ranges for it to be car­ried out:

a.

by li­censed audit com­pan­ies ap­poin­ted by the su­per­vised per­sons and en­tit­ies and der Fed­er­al Audit Over­sight Au­thor­ity un­der Art­icle 9a des Aud­it­or Over­sight Act of 16 Decem­ber 2005⁵⁶; or

b.

audit agents in ac­cord­ance with Art­icle 24a.

² The audit relates in par­tic­u­lar to the risks that su­per­vised per­sons and en­tit­ies may pass on to cred­it­ors, in­vestors, in­sured per­sons or to the prop­er func­tion of the fin­an­cial mar­kets. Du­plic­a­tion of audit­ing work must be avoided as far as pos­sible.

³ Art­icle 730b para­graph 2 of the Code of Ob­lig­a­tions⁵⁷ ap­plies by ana­logy to the pre­ser­va­tion of con­fid­en­ti­al­ity by audit com­pan­ies.

⁴ In re­la­tion to audits un­der para­graph 1 let­ter a, the Fed­er­al Coun­cil reg­u­lates the main as­pects of the con­tent and con­duct of the audit and the form of the re­port. It may au­thor­ise FINMA to is­sue im­ple­ment­ing pro­vi­sions on tech­nic­al mat­ters.

⁵ The su­per­vised per­sons and en­tit­ies bear the costs of the audit.