Federal Act on Collective Investment Schemes

¹Per­sons who man­age or rep­res­ent col­lect­ive in­vest­ment schemes or hold the as­sets of these schemes in safe­keep­ing, as well as their agents must ful­fil the fol­low­ing du­ties in par­tic­u­lar:¹

a.

duty of loy­alty: they act in­de­pend­ently and ex­clus­ively in the in­terests of the in­vestors;

b.

due di­li­gence: they im­ple­ment the or­gan­isa­tion­al meas­ures that are ne­ces­sary for ir­re­proach­able busi­ness con­duct;

c.²

duty to provide in­form­a­tion: They shall render ac­count of the col­lect­ive in­vest­ment schemes which they man­age and rep­res­ent and the as­sets of these schemes which they hold in safe­keep­ing, and provide in­form­a­tion on all of the fees and costs in­curred dir­ectly or in­dir­ectly by in­vestors as well as com­pens­a­tion from third parties, par­tic­u­larly com­mis­sions, dis­counts or oth­er fin­an­cial be­ne­fits.

²...³

³Per­sons who man­age or rep­res­ent col­lect­ive in­vest­ment schemes or hold their as­sets in safe­keep­ing, as well as their agents, shall take all ne­ces­sary pre­cau­tions to en­sure that all du­ties in re­la­tion to all their busi­ness activ­it­ies are per­formed prop­erly.⁴