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

¹ The fund man­age­ment com­pany and the SICAV shall ap­point at least two nat­ur­al per­sons or one leg­al per­son as valu­ation ex­perts. Ap­point­ments re­quire the ap­prov­al of FINMA.⁹¹

² Ap­prov­al is gran­ted if the valu­ation ex­perts:⁹²

a.

pos­sess the ne­ces­sary qual­i­fic­a­tions;

b.

are in­de­pend­ent;

c.⁹³

...

³ The valu­ation ex­perts must con­duct their valu­ations with the due di­li­gence and ex­pert­ise re­quired of a valu­ation ex­pert.⁹⁴

⁴ FINMA may make re­cog­ni­tion de­pend­ent on the con­clu­sion of pro­fes­sion­al in­dem­nity in­sur­ance or on the evid­ence of fin­an­cial guar­an­tees.⁹⁵

⁵ It may stip­u­late ad­di­tion­al re­quire­ments for the valu­ation ex­perts and de­scribe the valu­ation meth­ods to be ad­op­ted.⁹⁶