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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

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