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

¹ FINMA shall take the ne­ces­sary meas­ures if the su­per­vis­ory or­gan­isa­tion does not meet the re­quire­ments un­der Chapter 2 of this title or does not per­form its su­per­vis­ory tasks.

² FINMA may dis­miss per­sons who no longer ful­fil the guar­an­tee of ir­re­proach­able busi­ness con­duct.

³ If no oth­er meas­ure proves ef­fect­ive, FINMA may li­quid­ate the su­per­vis­ory or­gan­isa­tion and trans­fer the su­per­vis­ory activ­ity to an­oth­er su­per­vis­ory or­gan­isa­tion as a meas­ure of last re­sort.

⁴ If there are indications of irregularities and the supervisory organisation does not take the measures required to restore compliance with the law, FINMA may:

a.

con­duct an audit of the su­per­vised per­son or en­tity;

b.

ap­point an audit agent in ac­cord­ance with Art­icle 24a; or

c.

make use of su­per­vis­ory in­stru­ments in ac­cord­ance with Art­icles 29–37.