Ordinance
on Collective Investment Schemes
(Collective Investment Schemes Ordinance, CISO)

(Art. 118g and 118h CISA)

¹ The in­sti­tu­tion re­spons­ible for the ad­min­is­tra­tion of a L-QIF (Art. 118g or 118h CISA) is re­spons­ible for en­sur­ing that the leg­al, con­trac­tu­al, stat­utory or reg­u­lat­ory pro­vi­sions ap­plic­able to the L-QIF are com­plied with.

² If a col­lect­ive in­vest­ment scheme does not com­ply or no longer com­plies with the defin­i­tion of an L-QIF set out in Art­icle 118a para­graph 1 let­ters a-c CISA, the in­sti­tu­tion must in­form FINMA, the cus­todi­an bank and the audit firm im­me­di­ately.

³ If the leg­al, con­trac­tu­al, stat­utory or reg­u­lat­ory pro­vi­sions ap­plic­able to the L-QIF are oth­er­wise not or no longer com­plied with, the in­sti­tu­tion must im­me­di­ately in­form the in­vestors, the cus­todi­an bank and the audit firm and en­sure that the prop­er situ­ation is re­stored with­in a reas­on­able peri­od of time. If this is not pos­sible, it must dis­solve the L-QIF.