The management body of a portfolio manager or trustee entity must consist of at least two qualified persons.
The management body may consist of only one qualified person subject to proof that continuation of business operations on a going concern basis is guaranteed.
A person is deemed qualified to manage business operations if they have received appropriate training in the activities of a portfolio manager or trustee and at the time of assuming management duties has had sufficient professional experience in portfolio management for third parties or within the framework of trusts. The Federal Council shall regulate the details.
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