Commentaries: Art. 148

Any person who wilfully does any of the following is liable to a custodial sentence not exceeding three years or to a monetary penalty:¹
1. ² .
2. establishes a collective investment scheme without approval or authorisation;
3. ³ .
4. ⁴ offers domestic and foreign collective investment schemes that have not been approved to non-qualified investors;
5. fails to maintain the books of account in an orderly manner or does not ar- chive company books of account, records and documents as prescribed;
6. ⁵ in annual report or semi-annual report:
1. provides false information or withholds material facts, 2. does not provide all the mandatory information; g.⁶ with respect to the annual report or semi-annual report: 1. fails to produce them or fails to produce them in an orderly manner, 2. fails to publish it or fails to publish it by the specified deadline; h. provides false information to the audit company, the investigating officer, the administrative receiver, the liquidator or FINMA or refuses to provide the requested information; i.⁷ . j. as valuation experts, commit a gross breach of the duties assigned to them; k.⁸ . l.⁹ .
.¹⁰
Where the offender acts through negligence, the penalty is a fine not exceeding CHF 250,000.
.¹¹

Amended by No I 1 of the FA of 12 Dec. 2014 on Expanding the Offence of Breach of Professional Confidentiality, in force since 1 July 2015 (AS 2015 1535;BBl 2014 62316241). ↩
Repealed by Annex No 14 of the Financial Market Supervision Act of 22 June 2007, with effect from 1 Jan. 2009 (AS 2008 52075205;BBl 2006 2829). ↩
Repealed by Annex No 14 of the Financial Market Supervision Act of 22 June 2007, with effect from 1 Jan. 2009 (AS 2008 52075205;BBl 2006 2829). ↩
Amended by Annex No 3 of the Financial Services Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2019 4417;BBl 2015 8901). ↩
Amended by Annex No 3 of the Financial Services Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2019 4417;BBl 2015 8901). ↩
Amended by Annex No 3 of the Financial Services Act of 15 June 2018, in force since 1 Jan. 2020 (AS 2019 4417;BBl 2015 8901). ↩
Repealed by Annex No 14 of the Financial Market Supervision Act of 22 June 2007, with effect from 1 Jan. 2009 (AS 2008 52075205;BBl 2006 2829). ↩
Repealed by Annex No II 13 of the Financial Institutions Act of 15 June 2018, with effect from 1 Jan. 2020 (AS 2018 5247, 2019 4631;BBl 2015 8901). ↩
Inserted by No I 1 of the FA of 12 Dec. 2014 on Expanding the Offence of Breach of Professional Confidentiality (AS 2015 1535;BBl 2014 62316241). Repealed by Annex No II 13 of the Financial Institutions Act of 15 June 2018, with effect from 1 Jan. 2020 (AS 2018 5247, 2019 4631;BBl 2015 8901). ↩
Inserted by No I 1 of the FA of 12 Dec. 2014 on Expanding the Offence of Breach of Professional Confidentiality (AS 2015 1535;BBl 2014 62316241). Repealed by Annex No II 13 of the Financial Institutions Act of 15 June 2018, with effect from 1 Jan. 2020 (AS 2018 5247, 2019 4631;BBl 2015 8901). ↩
Repealed by Annex No 9 of the Financial Market Infrastructure Act of 19 June 2015, with effect from 1 Jan. 2016 (AS 2015 5339;BBl 2014 7483). ↩

Art. 148

Footnotes