Federal Act on Collective Investment Schemes

¹The SICAV must ap­point a cus­todi­an bank in ac­cord­ance with Art­icles 72–74.

²FINMA may grant ex­emp­tions from this duty if jus­ti­fied, provided:

a.

the SICAV is ex­clus­ively open to qual­i­fied in­vestors;

b.

one or more in­sti­tu­tions which are sub­ject to equi­val­ent su­per­vi­sion ex­ecute the trans­ac­tions re­lated to set­tle­ment and spe­cial­ise in such trans­ac­tions (prime broker); and

c.

it is en­sured that the prime broker or the for­eign su­per­vis­ory au­thor­ity re­spons­ible for the prime broker will provide FINMA with all the in­form­a­tion and doc­u­ments that it re­quires to carry out its du­ties.