Art. 105a

(Art. 73 para. 2 and 2^bisCISA)

Where the custodian bank transfers safekeeping of the fund’s assets to a third-party custodian or central securities depository in Switzerland or abroad, it shall verify and monitor whether the latter:¹

1. possesses an appropriate organisational structure, financial guarantees and the specialist qualifications required given the nature and complexity of the assets entrusted to it;
2. is subject to regular external audits, thereby ensuring that it possesses the financial instruments;
3. the assets received from the custodian bank are kept in safe custody in such a manner that by means of regular portfolio comparisons they can at all times be clearly identified as belonging to the fund’s assets;
4. complies with the provisions applicable to the custodian bank with respect to the performance of the tasks delegated to it and the avoidance of conflicts of interest.