The ongoing supervision of portfolio managers and trustees under Article 17 of the Financial Institutions Act of 15 June 20181is performed by one or more supervisory organisations with their registered office in Switzerland.2
The supervisory organisation shall require authorisation from FINMA before commencing its supervisory activity and shall be supervised by FINMA.
The supervisory organisation may also supervise financial intermediaries under Article 2 paragraph 3 of the Anti-Money Laundering Act of 10 October 19973(AMLA) with regard to compliance with their duties under AMLA, provided they are recognised as a self-regulatory organisation in accordance with Article 24 AMLA.
If the supervisory organisation is also active in accordance with paragraph 3 as a self-regulatory organisation, it shall ensure that this is evident to others at all times.