954.11FinIOFederal Council OrdinanceJan 1, 2020Original source
The representation of a foreign financial institution that provides financial services in accordance with Article 3 letter c of the FinSA1must:
comply with the provisions of the FinSA;
enter its client advisers in a register of advisers in accordance with Article 28 of the FinSA if they do not exclusively provide their services in Switzerland to professional or institutional clients in accordance with Article 4 of the FinSA.
The prohibition on establishing a representation of a foreign fund management company in accordance with Article 58 paragraph 2 of the FinIA2applies exclusively to the representation's activities in relation to the administration and management of investment funds.
If a foreign financial institution establishes two or more representations in Switzerland, it must obtain authorisation for each representation.3
The foreign financial institution must obtain approval from FINMA before closing a representation.4