FINMA shall take the necessary measures if the supervisory organisation does not meet the requirements under Chapter 2 of this title or does not perform its supervisory tasks.
FINMA may dismiss persons who no longer fulfil the guarantee of irreproachable business conduct.
If no other measure proves effective, FINMA may liquidate the supervisory organisation and transfer the supervisory activity to another supervisory organisation as a measure of last resort.
If there are indications of irregularities and the supervisory organisation does not take the measures required to restore compliance with the law, FINMA may:
conduct an audit of the supervised person or entity;
appoint an audit agent in accordance with Article 24a ; or
make use of supervisory instruments in accordance with Articles 29–37.
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