Art. 19

(Art. 123 para. 2 FinMIA)

1. When calculating their acquisition positions (Art. 14 para. 1 let. a) and disposal positions (Art. 14 para. 1 let. b), banks and securities firms under the FinIA may disregard equity securities and equity derivatives which they hold:¹
   1. in their trading book, provided their share does not reach 5% of voting rights;
   2. as part of securities loans, collateral transactions or repurchase agreements provided their share does not reach 5% of voting rights;
   3. only for up to two trading days and exclusively for clearing and settling purposes.
2. The calculation under paragraph 1 is only permitted if there is no intention to exercise the voting rights or to intervene in the management of the issuer'²in any other way, and the voting share does not exceed 10% of the voting rights.
3. Equity securities for in-house funds under Article 71 FinSA shall be attributed to the bank's or securities firm's proprietary holdings.³