Federal Act
on Collective Investment Schemes
(Collective Investment Schemes Act, CISA)

of 23 June 2006 (Status as of 1 January 2023)


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Art. 135 Measures in the case of non-authorised or non-approved activity

1 Where per­sons op­er­ate without any au­thor­isa­tion or ap­prov­al, FINMA may or­der that the col­lect­ive in­vest­ment scheme be dis­solved.

2 To safe­guard the in­terests of in­vestors, FINMA may or­der that the col­lect­ive in­vest­ment scheme be changed to an­oth­er leg­al status.

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