Ordinance of the Swiss Financial Market Supervisory Authority on Collective Investment Schemes

¹Pro­fes­sion­al in­dem­nity in­sur­ance for as­set man­agers of col­lect­ive in­vest­ment schemes in ac­cord­ance with Art­icle 21 para­graph 3 let­ter b CISO¹ must meet the fol­low­ing re­quire­ments:

a.

It must be taken out with an in­sur­ance com­pany with­in the mean­ing of the In­sur­ance Su­per­vi­sion Act of 17 Decem­ber 2004².

b.

The term must be at least one year.

c.

The no­tice peri­od must be at least 90 days.

d.

As a min­im­um, the pro­fes­sion­al in­dem­nity risks set out in Art­icle 76 must be covered.

²In­sur­ance cov­er­age for an in­di­vidu­al claim must cor­res­pond to at least 0.7 per­cent of the total as­sets of the col­lect­ive in­vest­ment schemes man­aged by the as­set man­ager of col­lect­ive in­vest­ment schemes.

³In­sur­ance cov­er­age for all claims in a year must cor­res­pond to at least 0.9 per­cent of the total as­sets of the col­lect­ive in­vest­ment schemes man­aged by the as­set man­ager of col­lect­ive in­vest­ment schemes.

⁴The re­quire­ments with re­gard to pro­fes­sion­al in­dem­nity in­sur­ance must be com­plied with at all times.