1 The prospectus must be submitted to the reviewing body prior to publication. The reviewing body shall check that it is complete, coherent and understandable.
2 The Federal Council may designate securities whose prospectus must be reviewed only after publication if a bank in accordance with the BankA33 or a securities firm in accordance with the FinIA34 confirms that the most important information on the issuers and the securities is known at the time of publication.
3 Prospectuses for collective investment schemes do not have to be reviewed; the foregoing does not apply to the approval requirement for the documentation of foreign collective investment schemes under Article 15 paragraph 1 letter e and Article 120 CISA35.
33 SR 952.0
34 SR 954.1
35 SR 951.31