The reviewing body requires a licence from FINMA. FINMA may grant a licence to two or more reviewing bodies provided this is objectively justified.
The reviewing body must be organised so as to guarantee the independent fulfilment of its tasks.
The reviewing 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 reviewing 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 reviewing body fails to remedy the deficiencies preventing it from fulfilling its tasks, FINMA shall withdraw its licence.
If a private body is not available as a reviewing body, the Federal Council shall designate a body for this task.
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