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Article NO. Content


Regulations Governing the Preparation of Financial Reports by Financial Holding Companies  CH

Amended Date: 2020.10.30 (Articles 24 amended,English version coming soon)
Current English version amended on 2006.01.24 
Article 9     The financial reports of a financial holding company shall be prepared on a consolidated basis.
    When preparing a consolidated financial report, a financial holding company shall incorporate all bank, insurance, and securities subsidiaries therein, and shall further comply with Statement of Financial Accounting Standards No. 7.
    Upon special approval by the FSC, A subsidiary meeting the definition set out in Article 4, subparagraph 4 of the Financial Holding Company Act maybe excluded from consolidated financial statements if it is proven that the holding company does not have effective control and has prepared a concrete adjustment plan. This fact shall be disclosed in a footnote.