(Art. 21–27 FinSA)
Financial service providers must satisfy the organisational requirements in accordance with Articles 21–27 FinSA within two years of entry into force of the present Ordinance.
Financial service providers who wish to satisfy the duties in accordance with Articles 21–27 FinSA prior to expiration of the two-year period after entry into force of the present Ordinance must notify their audit company of this irrevocably in writing, indicating the chosen time.
Until the time indicated in accordance with paragraph 2, the relevant financial service providers are subject to the organisational provisions in accordance with:
Article 11 of the Stock Exchange Act of 24 March 199523;
Articles 21–23 CISA;
Article 24 CISA in the version of 1 January 201426;
Article 120 paragraph 4 CISA in the version of 1 March 201327;
the minimum standard of self-regulation recognised by FINMA in accordance with Article 7 paragraphs 1 und 3 FINMASA28 for financial services and offers of collective investment schemes.
For financial services and offers which in accordance with Article 3 paragraphs 1 and 2 letters a–c CISA in the version of 1 March 201329 were not deemed to be distribution, no additional duties arise due to the continued application of Article 24 paragraph 2 and Article 120 paragraph 4 CISA in accordance with paragraph 3 of the present Article.
Entry into force of the present Article does not nullify existing distribution agreements in accordance with CISA.