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Art. 33 – Equivalent collateral

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Art. 33

Equivalent collateral

(Art. 29 para. 1 let. b FinSA)

1

A deposit in the amount of the insurance sum placed with a bank within the meaning of Article 1a of the Banking Act of 8 November 19342 qualifies as collateral equivalent to professional indemnity insurance. The deposit requires the consent of the registration body.

2

For foreign financial service providers subject to prudential supervision abroad, minimum capital corresponding to an amount of CHF 10 million qualifies as equivalent collateral.

  1. 2 SR 952.0
Legal act context
SR 950.11 · FINSO · Ordinance · Ordinance of 6 November 2019 on Financial Services (Financial Services Ordinance, FINSO)
Structure path
Title 2 Requirements for the Provision of Financial Services Chapter 3 Register of Advisers Section 1 Exemption from the duty to register and take out professional indemnity insurance
Language
English (en)
Data status
2022-01-01

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