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

¹ FINMA shall grant the su­per­vis­ory or­gan­isa­tion au­thor­isa­tion if the pro­vi­sions of this chapter are com­plied with.

² It shall ap­prove the su­per­vis­ory or­gan­isa­tion's art­icles of as­so­ci­ation and or­gan­isa­tion­al reg­u­la­tions, as well as the ap­point­ment of the per­sons en­trus­ted with its ad­min­is­tra­tion and man­age­ment.

³ Pri­or au­thor­isa­tion or ap­prov­al from FINMA must be ob­tained in the case of changes to cir­cum­stances re­quir­ing au­thor­isa­tion and doc­u­ments re­quir­ing ap­prov­al.

⁴ If two or more su­per­vis­ory or­gan­isa­tions are es­tab­lished, the Fed­er­al Coun­cil may is­sue rules for the co­ordin­a­tion of their activ­it­ies and the sub­jec­tion of the su­per­vised per­sons and en­tit­ies to a giv­en su­per­vis­ory or­gan­isa­tion.