Art. 78

(Art. 52 para. 1 and 53 FinIA)

1. If a foreign financial institution establishes multiple branches in Switzerland, it must:
   1. obtain authorisation for each one;
   2. designate one among them which is responsible for relations:
   1. with FINMA and the supervisory organisation in the case of Article 52 paragraph 1 letter a FinIA, 2. with FINMA in the case of Article 52 paragraph 1 letters b–e FinIA.
2. These branches must jointly meet the conditions of the FinIA and the present Ordinance. An audit report is sufficient.