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

The as­cer­tain­ment of the crim­in­ally li­able per­sons may be dis­pensed with and in­stead the busi­ness op­er­a­tion may be ordered to pay the fine (Art. 7 of the FA of 22 March 1974¹¹⁴ on Ad­min­is­trat­ive Crim­in­al Law) where:

a.

the as­cer­tain­ment of the per­sons who are crim­in­ally li­able un­der Art­icle 6 of the Fed­er­al Act of 22 March 1974 on Ad­min­is­trat­ive Crim­in­al Law re­quires in­vest­ig­at­ive meas­ures that are dis­pro­por­tion­ate in com­par­is­on with the pen­alty in­curred; and

b.

a fine of a max­im­um of 50 000 francs is un­der con­sid­er­a­tion for the vi­ol­a­tions of the crim­in­al pro­vi­sions of this Act or the fin­an­cial mar­ket acts.