Delegation of regulatory material tasks (art. 66 CISO-FINMA) must be reflected in your organizational documents
Rules in relation to any kind of delegation had been introduced by Art. 66 CISO-FINMA in 2015 to provide a similar requirement for CISA licensees as set out for banks in the FINMA Circular 2008/7 «Outsourcing – Banks» (which is currently under revision). The licensees covered by Art. 66 CISO-FINMA are fund management companies, investment Companies with variable capital (SICAVs), asset managers of collective investment schemes and representatives of foreign collective investment schemes (hereinafter «the licensee(s)»).
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