Art. 126d

(Art. 118b CISA)

1. The fund management company, the board of directors of a SICAV and the general partners of an LPCI must notify FINMA immediately of the decision to change status to an L-QIF.
2. In the case of a collective investment scheme in the legal form of a contractual fund or SICAV, the decision to change status must be published in the media of publication. The publication must contain the following information in particular:
   1. notice of the effects of the change of status on the authorisation or approval status of the collective investment scheme, in particular the release of the collective investment scheme from FINMA supervision;
   2. notice that investors may choose within 30 days of publication whether they wish to:
   1. remain in the collective investment scheme if they expressly consent to the change of status, or 2. redeem their units in compliance with the contractual or regulatory redemption deadlines and dates if they terminate their units; c. notice that those investors who do not exercise their option under letter b will be treated in the same way as investors who redeem their units on the 30th day after publication.
3. In the case of a collective investment scheme in the legal form of an LPCI, the general partners must inform the limited partners of the associated effects on the approval and authorisation status of the LPCI, in particular the release of the LPCI from FINMA supervision, before the resolution on the change of status is passed.