The registration body shall keep the register of advisers. It requires a licence from the Swiss Financial Market Supervisory Authority (FINMA).
FINMA may grant a licence to two or more registration bodies provided this is objectively justified.
The registration body must be organised so as to guarantee the independent fulfilment of its tasks.
The registration body and the persons responsible for its management must provide the guarantee of irreproachable business conduct. Furthermore, the persons responsible for its management must enjoy a good reputation and have the specialist qualifications required for their function.
If the registration body no longer fulfils the requirements under this Act, FINMA shall order the measures necessary to remedy the deficiencies. If, within a reasonable period, the registration body fails to remedy the deficiencies preventing it from fulfilling its tasks, FINMA shall withdraw its licence to register client advisers.
If a private body is not available as a registration body, the Federal Council shall designate a body for this task.
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