Collective Investment Schemes Ordinance (CISO)
Amended by Annex No 3 of the Financial Market Audit Ordinance of 5 Nov. 2014, in force since 1 Jan. 2015 (AS 2014 4295).
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
Chapter 1 Audit
Inserted by Annex No 3 of the Financial Market Audit Ordinance of 5 Nov. 2014, in force since 1 Jan. 2015 (AS 2014 4295).
Art. 134 Audit of the custodian bank
(Art. 126 para. 1 and 6 CISA) 1 The audit company for the custodian bank shall verify whether the custodian bank is complying with the supervision and contractual provisions. 2 If the audit company for the custodian bank identifies an infringement of supervision or contractual provisions or other irregularities, it shall inform FINMA and the audit company for the fund management company or for the investment company with variable capital (SICAV).
Art. 134 — Amended by Annex No 3 of the Financial Market Audit Ordinance of 5 Nov. 2014, in force since 1 Jan. 2015 (AS 2014 4295).
Art. 135 Audit report
(Art. 126 para. 1 and 6 CISA) 1 The audit company for the custodian bank shall specify in a separate audit report whether the custodian bank is complying with the supervision and the contractual provisions. 2 It must also include any reservation in the audit report under Article 27 paragraph 1 of the Financial Market Supervision Act of 22 June 2007 on the custodian bank. 3 It shall submit the audit report under paragraph 1 to the following recipients: a. the fund management company or the SICAV; b. FINMA; c. the audit company for the fund management company or the SICAV. 4 The audit company for the fund management company or the SICAV shall take account of the results of the report on the audit of the custodian bank in their own audits. 5 It may request additional information from the audit company for the custodian bank that it requires to carry out its tasks.
Art. 135 — Amended by Annex No 3 of the Financial Market Audit Ordinance of 5 Nov. 2014, in force since 1 Jan. 2015 (AS 2014 4295). Para. 2 — SR 956.1
Art. 136
Repealed by Annex 1 No II 9 of the Financial Institutions Ordinance of 6 Nov. 2019, with effect from 1 Jan. 2020 (AS 2019 4633).
Art. 137 Audit of accounts
(Art. 126 para. 5 and 6 CISA) 1 When auditing the accounts of collective investment schemes, the information under Articles 89 paragraph 1 letters a–h and 90 CISA shall be audited. 2 In relation to the auditing of accounts of persons named in Article 126 paragraph 1 CISA, of the investment funds managed and of any real estate company belonging to the real estate funds or to the real estate investment companies, FINMA may regulate the details relating to form, content, periodicity, time limits and recipients of reports as well as the conduct of the audit.
Art. 137 — Amended by Annex No 3 of the Financial Market Audit Ordinance of 5 Nov. 2014, in force since 1 Jan. 2015 (AS 2014 4295).
Art. 138–140
Repealed by Annex No 6 of the Financial Market Audit Act of 15 Oct. 2008, with effect from 1 Jan. 2009 (AS 2008 5363).
Chapter 2 Supervision
Inserted by Annex No 3 of the Financial Market Audit Ordinance of 5 Nov. 2014, in force since 1 Jan. 2015 (AS 2014 4295).
Art. 141 Continuation of the collective investment scheme
(Art. 96 CISA) 1 Where the continuation of the investment fund is in the interests of the investors and a suitable new fund management company or custodian bank can be found, FINMA may order the transfer of the fund contract thereto including rights and obligations. 2 Where the new fund management company enters into the fund contract, the liabilities and ownership of the assets and rights belonging to the investment fund must by law be passed to the new fund management company. 3 Where the continuation of the SICAV is in the interests of the investors and a suitable new SICAV can be found, FINMA may order the transfer of the assets thereto.
Art. 142 Form of documents to be submitted
(Art. 1 and 144 CISA) 1 FINMA may determine the form for submission, specifically for the following documents: a. applications for authorisation in accordance with Articles 13 and 15 CISA as well as related documents; b. prospectuses and key information documents; c. reports of changes in accordance with Article 16 CISA as well as related documents; d. annual and semi-annual reports. 2 It may designate a third party as the recipient of the submission.
Para. 1 let. d — Amended by Annex 11 No 1 of the Financial Services Ordinance of 6 Nov. 2019, in force since 1 Jan. 2020 (AS 2019 4459).