954.11FinIOFederal Council OrdinanceJan 1, 2020Original source
(Art. 44 FinIA)
Within the frame of their tasks in accordance with Article 44 FinIA, securities firms shall ensure an effective internal separation between the functions of trading, asset management and settlement. Where there are legitimate grounds for so doing, FINMA may allow exemptions or it may order the separation of further functions.
If they do not operate primarily in the financial sector, firms trading for the account of clients and firms acting as market makers within the meaning of Article 41 letters a and c FinIA must keep securities trading activities legally separate.
In all other respects, Article 14 applies.
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