Financial Institutions Ordinance (FinIO)
English is not an official language of the Swiss Confederation. This translation is provided for information purposes only and has no legal force.
Section 1 Portfolio Managers and Trustees
Art. 83 Domestic group companies
(Art. 61 para. 1 and 2 FinIA) 1 For domestic portfolio managers and trustees which form part of a financial group FINMA can provide that ongoing supervision is performed exclusively within the framework of group supervision. This is conditional on the group company being closely integrated into the risk management, internal control and internal auditing structures of the financial group. 2 FINMA shall publish a list of the group companies monitored by it in accordance with paragraph 1.
Art. 84 Ongoing supervision
(Art. 61 para. 2 and 62 FinIA) 1 The supervisory organisation shall verify on an ongoing basis whether the entities under its supervision specifically: a. satisfy the requirements of the FinIA; b. observe the duties pursuant to the Anti-Money Laundering Act of 10 October 1997 (AMLA); c. observe the duties pursuant to the FinSA if they provide financial services in accordance with Article 3 letter c FinSA; d. observe the duties pursuant to the CISA if they perform activities falling under the CISA. 2 FINMA shall provide the supervisory organisations with guidelines for auditing and supervision. In particular, it shall set down for the supervisory organisations a system of risk assessment as well as minimum requirements to be met by the supervision concept. It shall consult with the supervisory organisations beforehand. 3 Audit actions and their findings shall be recorded in audit reports. Audit reports shall be published in an official language. Exemptions through audit firms in accorda
Para. 1 let. b — SR 955.0 Para. 1 let. c — SR 950.1 Para. 1 let. d — SR 951.31 Para. 3 — SR 956.1 Para. 6 — Inserted by Annex No 8 of the O of 31 Jan. 2024, in force since 1 March 2024 (AS 2024 73).
Art. 85 Coordination of supervisory activities
(Art. 5 and 62 FinIA) With respect to the supervision of portfolio managers and trustees, FINMA and the supervisory organisations will coordinate their supervisory activities in order to avoid duplication.
Art. 86 Appointment of audit firms
(Art. 62 para. 1 FinIA) Where the supervisory organisation does not itself conduct the audit of supervised entities, it will ensure that: a. the appointed audit firm is correctly mandated and authorised in accordance with Article 43k FINMASA; b. the appointed audit firm implements the guidelines provided by FINMA; c. the areas audited and the corresponding depths of audit of risk assessments are commensurate with its supervision concept; and d. it is informed immediately of any irregularities.
let. a — SR 956.1
Art. 87 Audit frequency
(Art. 62 para. 2 and 3 FinIA) 1 When defining the audit frequency and the intensity of supervision, the supervisory organisation shall be guided by the risks associated with the activity of those supervised and the risks associated with their organisation. 2 In years in which no regular audit takes place, the supervisory authority shall collect standardised data on the risks associated with those supervised. 3 It shall assess the self-declared data collected and take further measures where necessary. 4 FINMA shall set down for, and in consultation with, the supervisory organisation guidelines for conducting an assessment in accordance with paragraphs 1–3.
Section 2 Managers of Collective Assets, Fund Mana
Art. 88 Auditing
(Art. 61 para. 3 and 63 FinIA) 1 The audit firm shall verify whether the entities under its supervision specifically: a. satisfy the requirements of the FinIA; b. observe the duties pursuant to the AMLA; c. observe the duties pursuant to the FinSA if it provides financial services in accordance with Article 3 letter c FinSA; d. observe the duties pursuant to the CISA if they perform activities falling under the CISA. 2 Supervised entities for which the audit firm submits an annual risk analysis are exempted from the duty to report on their business activity's compliance in accordance with Article 63 paragraph 3 FinIA.
Para. 1 let. b — SR 955.0 Para. 1 let. c — SR 950.1 Para. 1 let. d — SR 951.31
Art. 89 Cooperation between audit firms
(Art. 63 FinIA) The audit firms of supervised entities which cooperate in accordance with Article 14, 27 or 35 FinIA must themselves cooperate closely.
Section 3 Measures under Insolvency Law
(Art. 67 FinIA)
Art. 90
Article 24 BankA applies by analogy to fund management companies and securities firms.
SR 952.0