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


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Art. 13 Duty to obtain authorisation

1 Any party who es­tab­lishes or op­er­ates a col­lect­ive in­vest­ment scheme or is re­spons­ible for the safe­keep­ing of the as­sets held in it re­quires au­thor­isa­tion from FINMA.34

2 The fol­low­ing must ap­ply for au­thor­isa­tion:

a.35
...
b.
SICAVs;
c.
LP­CIs;
d.
SI­CAFs;
e.36
the cus­todi­an bank;
f. and g.37 ...
h.
rep­res­ent­at­ives of for­eign col­lect­ive in­vest­ment schemes.

2bis No au­thor­isa­tion is re­quired for a Lim­ited Qual­i­fied In­vestor Fund (L-QIF) in the leg­al form of a SICAV or LPCI.38

3 Rep­res­ent­at­ives who are already sub­ject to oth­er equi­val­ent of­fi­cial su­per­vi­sion may be gran­ted ex­emp­tion from the duty to ob­tain au­thor­isa­tion by the Fed­er­al Coun­cil.39

4 ...40

5 The per­sons cited in para­graph 2 let­ters b–d may only be entered in the Com­mer­cial Re­gister once au­thor­isa­tion has been gran­ted by FINMA.41

34 Amended by An­nex No II 13 of the Fin­an­cial In­sti­tu­tions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).

35 Re­pealed by An­nex No II 13 of the Fin­an­cial In­sti­tu­tions Act of 15 June 2018, with ef­fect from 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).

36 Amended by An­nex No II 13 of the Fin­an­cial In­sti­tu­tions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).

37 Re­pealed by An­nex No II 13 of the Fin­an­cial In­sti­tu­tions Act of 15 June 2018, with ef­fect from 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).

38 In­ser­ted by No I of the FA of 17 Dec. 2021, in force since 1 March 2024 (AS 2024 53; BBl 2020 6885).

39 Amended by An­nex No II 13 of the Fin­an­cial In­sti­tu­tions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).

40 Re­pealed by No I of the FA of 28 Sept. 2012, with ef­fect from 1 March 2013 (AS 2013 585; BBl 2012 3639).

41 Amended by An­nex No II 13 of the Fin­an­cial In­sti­tu­tions Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2018 5247, 2019 4631; BBl 2015 8901).

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