Commentaries: Art. 12

If a financial intermediary that wishes to continue to act on a professional basis as a financial intermediary withdraws from or is excluded from an SRO, it must submit an application for affiliation to another SRO within two months of withdrawing or after the legally binding exclusion decision.¹
Until receipt of the decision on the application, it may continue to carry on its activity only within the scope of the existing business relationships.
If it has not submitted an application to an SRO within the prescribed period or if it is refused affiliation, it shall be prohibited from continuing to act as a financial intermediary.²

Amended by No I of the O of 31 Aug. 2022, in force since 1 Jan. 2023 (AS 2022 552). ↩
Amended by No I of the O of 31 Aug. 2022, in force since 1 Jan. 2023 (AS 2022 552). ↩

Art. 12