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

¹ The su­per­vis­ory or­gan­isa­tion may carry out the audit of its su­per­vised per­sons and en­tit­ies it­self or ar­range for it to be car­ried out by an audit com­pany that:

a.

is li­censed as an aud­it­or by the Fed­er­al Audit Over­sight Au­thor­ity in ac­cord­ance with Art­icle 6 of the Aud­it­or Over­sight Act of 16 Decem­ber 2005⁹⁹;

b.

is ad­equately or­gan­ised for this audit; and

c.

does not per­form any oth­er activ­ity re­quir­ing au­thor­isa­tion un­der the fin­an­cial mar­ket acts.

² For audits con­duc­ted by an audit com­pany in ac­cord­ance with para­graph 1, a lead aud­it­or must be ap­poin­ted who:

a.

is li­censed by the Fed­er­al Audit Over­sight Au­thor­ity as an aud­it­or in ac­cord­ance with Art­icle 5 of the Audit Over­sight Act;

b.

pos­sesses the re­quired spe­cial­ist know­ledge and prac­tic­al ex­per­i­ence to con­duct the audit in ac­cord­ance with para­graph 1.

³ Art­icles 24 para­graphs 2–5 and 24a–28a ap­ply by ana­logy.

⁴ If so ordered by the su­per­vis­ory or­gan­isa­tion, the su­per­vised per­sons and en­tit­ies must make an ad­vance pay­ment to cov­er costs.