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The legal tasks of the custodian bank as a contractual party are divided into custody (Art. 73 par.1 CISA) and controlling (NAV plausibility checks, controlling investment decisions and dividends) (Art. 73 par. 3 CISA). The custodian bank also renders other services such as share issue/redemption and payment transactions (Art. 73 par. 1 CISA). It must also approve the fund contract drafted by the fund management before it is sent to FINMA for authorisation (Art. 26 par. 1 CISA). The same applies to any changes made to the fund contract (Art. 27 par. 1 CISA). The custodian bank and its officers also act solely in the interests of the investors (Art. 20 par. 1 a CISA).

Term-Nr.: 235

German: Depotbank (KAG) (247)

Source: SFO D15 2010 m. e. E., 24.04.2010

Notice: The contents of this terminology collection Lawpedia® with a focus on business law (especially financial market law) have been researched with great care and compiled on the basis of an extensive flash card, training materials and literature. The various sources (as far as they could be found) can be found in the abbreviations and source references. References to other sources are welcome. Despite the care taken, the provider cannot accept any liability for the accuracy, completeness and topicality of the information provided. The information is of a general nature in particular and does not constitute legal advice in individual cases.

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