Art. 43c Principle
1 FINMA shall grant the supervisory organisation authorisation if the provisions of this chapter are complied with.
2 It shall approve the supervisory organisation's articles of association and organisational regulations, as well as the appointment of the persons entrusted with its administration and management.
3 Prior authorisation or approval from FINMA must be obtained in the case of changes to circumstances requiring authorisation and documents requiring approval.
4 If two or more supervisory organisations are established, the Federal Council may issue rules for the coordination of their activities and the subjection of the supervised persons and entities to a given supervisory organisation.
Art. 43d Organisation
1 The supervisory organisation must effectively be managed from Switzerland.
2 It must have appropriate management rules and be organised in such a manner that it can fulfil its duties in accordance with this Act.
3 It must have the financial and personnel resources necessary to perform its tasks.
4 It must have a management board as the operational body.
Art. 43e Guarantee of irreproachable business conduct and independence
1 The supervisory organisation and the persons responsible for its management must provide a guarantee of irreproachable business conduct.
2 Moreover, the persons responsible for administration and management must enjoy a good reputation and have the specialist qualifications required for their functions.
3 A majority of the persons charged with administration must be independent of the supervised persons and entities.
4 The members of the management board must be independent of the persons and entities supervised by the supervisory organisation.
5 The persons entrusted with supervision must be independent of the persons and entities they supervise. The tasks of a supervisory organisation under this Act and those of a self-regulatory organisation under AMLA86 may be managed by the same persons and carried out by the same staff.
Art. 43f Funding and reserves
1 The supervisory organisation shall finance its supervisory in individual cases and when providing services from contributions paid by the supervised persons and entities.
2 The supervisory organisation shall form reserves within a reasonable time for the exercise of its supervisory activity in an amount equivalent to one annual budget.
3 The Confederation may grant the supervisory organisation a loan on market terms in order to guarantee its liquidity until the reserves in accordance with paragraph 2 have been formed in full.
Article 19 applies by analogy to the supervisory organisation.