Art. 16

(Art. 17 CISA)

1. The simplified approval procedure may only be adopted where the fund regulations:
   1. comply with a format which FINMA has recognised as being the minimum standard, such as model regulations and prospectuses of a specific industry body; or
   2. comply with a set of standards which FINMA has recognised as binding in relation to the relevant licensee.
2. FINMA shall give the applicant confirmation of its receipt of the application.
3. Where additional information is required for the purpose of assessing the application, FINMA may instruct the applicant to submit such information at a subsequent time.