¹ This Order governs the working relationship of FINMA employees.

² Except as otherwise provided in this Order, the provisions of the Code of Obligations ¹ Apply as a supplement as a public right of the Confederation.

³ FINMA enacts implementing regulations.

¹ The FINMA may, on its own initiative or at the request of the majority of employees, have a staff committee.

² It lays down a regulation on the powers and powers of the Staff Committee.

¹ FINMA maintains regular contact with staff organisations in their capacity as representatives of the fundamental interests of staff.

² Personnel organizations are empowered to represent their members in the defence of individual interests.

Public-law work reports arise from the conclusion of a written and duly signed employment contract between FINMA and the person to be hired.

¹ Work reports are of indefinite duration if the contract of employment is not concluded for a specified period of time.

² The fixed-term contract shall be concluded for no more than five years.

³ It shall retroactively acquire the quality of an indefinite contract if it is extended tacitly at the end of the agreed period or the unbroken duration of the undertaking exceeds five years.

¹ In the case of indeterminate status reports, the trial period is three months. It can be extended to a maximum of three months. ¹

^1bis If the circumstances so warrant, it may be contractually fixed at the beginning of the working reports to a maximum of six months. ²

² In the case of fixed-term work reports, no trial period is foreseen, unless the contract of employment provides for it.

¹ The parties may, by mutual agreement, terminate the working reports at any time. ¹

² The working reports shall terminate without termination,

A.

At the end of an agreed period;

B.

When the age limit under s. 12;

C.

In the case of the employee's death.

During the trial period, each party to the contract may terminate the work reports:

A.

For the first two months, at the end of the week following the announcement of the termination;

B.

From the third month, at the end of the month following the announcement of the termination.

¹ At the end of the trial period, each party to the contract may terminate the employment reports on an indeterminate basis at the end of each month with three months' notice.

^1bis The cancellation period is nine months for the Director. ¹

² The termination period is seven months for members of management. ²

^2bis Where circumstances warrant, management may designate additional key functions to which a longer period of termination, but not more than seven months, applies. ³

³ For functions that do not fall under paras. 1 ^Bis To 2 ^Bis , longer periods of termination than that provided for in para. 1, but not more than six months, can be agreed contractually if justified in certain specific cases. ⁴

⁴ The termination of the work reports by FINMA is based on objective reasons. FINMA communicates in writing to the employee the reasons for the dismissal.

¹ Each party to the contract may immediately terminate, at any time, term or indeterminate employment reports for just cause.

² Any immediate termination must be in writing.

³ In particular, all circumstances which, according to the rules of good faith, do not permit the person who gave the leave to continue the work reports are considered to be fair grounds.

¹ The termination of the work reports shall require the written form.

² Where the parties are unable to terminate the working relationship by mutual agreement, FINMA shall terminate the working relationship by way of a decision. ¹

¹ Work reports shall terminate without termination upon reaching the age limit (ordinary age of retirement) defined in Art. 21 of the Federal Act of 20 December 1946 on old-age and survivors' insurance ¹ .

² In exceptional cases, FINMA may, by mutual agreement with the employee concerned, extend working reports beyond the ordinary retirement age, but up to a maximum of 70 years.

¹ If a significant number of employees are to be made redundant as a result of economic measures or operational measures, FINMA will take measures to support the staff concerned after hearing staff organisations.

² Support measures include social protection measures, including measures to assist in career reorientation or early retirement benefits.

³ The benefits provided in the case of early retirement include an old-age pension and a transitional pension financed by FINMA according to the pension scheme for employees and beneficiaries of the Provident Fund. FINMA.

¹ The termination of employment reports is abusive when it is pronounced in particular:

A.

For reasons inherent in the employee's personality, since these reasons have no connection with the working report and do not constitute serious prejudice to him on an essential point;

B.

Because the employee exercises constitutional rights, provided that the employee does not violate his or her obligations and does not address a critical point of serious prejudice to the work of the institution;

C.

Because the employee has legal obligations or because he or she performs a voluntary Swiss military or civil service;

D.

Because the employee belongs to or does not belong to a staff association or because it has legal trade union activities;

E.

Regardless of the length of time the employee is an elected representative of an institution of the enterprise or of an institution attached to the FINMA;

F.

Only in order to prevent the birth of legal claims from the other party resulting from the working relationship;

G.

Because the other party submits in good faith the claims resulting from the work reports.

² In addition, protection against leave within the meaning of s. 10 of the Act of 24 March 1995 on equality ¹ Applies.

¹ Termination for a period of protection is null and void. The period of prior notice shall be suspended during the period of protection until the end of the month in which the period of protection ends.

² The term of protection is:

A.

The exercise of legal obligations and the voluntary Swiss military or civil service: during the period of the incapacity to work and, where it is more than two working weeks, during the four weeks preceding and following;

B. ¹

The inability to work due to illness or accident after the end of the trial period: at least until the end of a period of two years from the beginning of the prevention of work;

C. ²

The inability to work due to illness or accident following the communication of a reason for termination: for three months to the end of the fifth year of commitment, then for six months;

D. ³

Pregnancy: during pregnancy and sixteen weeks after birth;

E. ⁴

The participation, approved by FINMA, in foreign aid operations: during the period of the incapacity to work.

³ In the event of incapacity to work due to new illness or accident or because of the relapse of an illness or the sequelae of an accident, the period prescribed in para. 2, let. B, start to run again. ⁵

⁴ If a new inability to work under para. 3 occurs before the employee has previously had a working capacity corresponding to his or her occupancy rate for at least twelve months without interruption, the period prescribed in para. 2, let. B, take into account the length of the former impediment to work. Short-term absences are not taken into account. The minimum period is that provided for in para. 2, let. C. ⁶

⁵ If the employee refuses to cooperate in the implementation of the rehabilitation measures referred to in s. 25 A Or does not follow the doctor's requirements under s. 25, para. 4, the employer may terminate the work reports before the end of the period prescribed in para. 2, let. B, as long as a ground for termination under s. 9, para. 4, exists. ⁷

¹ If FINMA has contravened the termination time provisions or has made an immediate termination in the absence of fair grounds, the employee is entitled to continue the salary until the expiry of the ordinary termination period or The fixed-term contract of employment.

² If the working reports have been terminated unreasonably or with immediate effect in the absence of just cause or in the event of a breach of the procedural provisions, the party in respect of which the termination has been pronounced may, independently Any claims arising out of para. 1, require appropriate compensation taking into account all circumstances. However, the amount cannot exceed the equivalent of six months' salary.

³ If FINMA has terminated employment reports without objective reasons, the employee may require compensation within the meaning of para. 2.

⁴ Invalidity of an inopportune termination in accordance with Art. 15 and claims for damages arising from other provisions are reserved.

¹ FINMA pays a salary to its employees. It is determined according to the criteria of s. 19, para. 1. ¹

² The maximum amount of the remuneration of the Director, consisting of the salary, allowances and other benefits of FINMA, shall be fixed at the time of the undertaking; it shall be subject to approval by the Federal Council. ²

³ The salaries of the trainees are based on the recommendations of the professional associations and regional practices. FINMA may move away from the training staff.

⁴ The salary is paid in twelve parts. ³

¹ FINMA determines salary through salary ranges, which are partially overlapping. It publishes these salary ranges.

² A salary of more than 360,000 francs requires the approval of the head of the Federal Department of Finance.

³ The activity of the employees is classified by function.

⁴ Each function corresponds to a salary range.

⁵ The Director's salary is determined independently of salary ranges.

¹ Each employee is assigned a salary range that corresponds to his or her function. The salary is set, within the salary range applicable to the function, taking into account requirements, personal qualifications, performance and responsibilities to be taken into account.

² If the requirements, personal qualifications, performance or responsibilities are changing, the salary can be adjusted to the extent of the relevant salary range and the budget allocated. As a general rule, these adaptations occur at the beginning of the year.

³ In the case of a change of function, the adjustment of the salary shall take place at the time of the change.

⁴ The Administrative Board shall define each year within the budget the amount which may be allocated to the individual adaptations of salaries.

The increase can be offset to an appropriate degree. The Board of Directors decides each year whether and to what extent wages are adjusted to increase the rate of increase.

¹ Contributors are entitled to additional benefits, including support payments, loyalty bonuses and discounts for public transport.

² FINMA rules the reimbursement of additional costs related to the exercise of professional activity for FINMA in a regulation.

³ Lump sum charges may be reimbursed. The latter may not exceed the maximum amounts defined by the tax authorities.

⁴ The Board of Directors may provide for spontaneous premiums up to 500 francs in the Staff Regulations. ²

¹ FINMA reimburses the costs of proceedings and costs those involved in civil or criminal proceedings as a result of their professional activity:

A.

Whether the procedure relates to professional activity for FINMA;

B.

The act was not committed intentionally or by gross negligence; and

C.

If FINMA has an interest in the trial.

² As long as the court has not delivered its judgment, guarantees for the reimbursement of costs are given. The fees may be paid for just cause before the court has rendered its judgment.

¹ Employees are entitled to retain their salary for 12 months in the event of incapacity to work due to illness or accident.

² At the end of this period, the employer pays 90 % of the salary for a period of 12 months.

³ The salary can be maintained according to para. 2, if exceptional circumstances justify it, until the end of medical examinations or until the payment of an annuity, but for a period of no more than twelve months.

⁴ Benefits under s. 1 to 3 are allocated provided that a medical certificate is produced and the doctor's prescriptions are followed. FINMA may request that the collaborator be examined by a medical adviser or by the medical service.

⁵ If the employee recommences temporarily to work after the beginning of the incapacity to work, the time limits set out in paras. 1 to 3 shall be extended by the number of days during which he makes the total daily working time due and satisfies the requirements laid down in the description of his office.

⁶ In the event of incapacity to work due to new illness or accident, the time limits set out in paras. 1 to 3 are starting to run again. The relapse of an illness or the sequelae of an accident is considered to be a new disease or accident when the employee has previously had a working capacity corresponding to his or her occupancy rate for at least 12 months Without interruption. Short-term absences are not taken into account.

⁷ At the end of the deadlines set out in paras. 1 to 3 and possible extension according to para. 6, the employee loses any right to salary, regardless of the maintenance of the working relationship.

⁸ In the case of a fixed-term employment contract, the payment of wages in accordance with paras. 1 to 3 no later than the end of the working reports.

¹ If an employee is prevented from working because of illness or accident, FINMA shall implement all relevant and reasonable means to reintegrate him into the world of work (employer rehabilitation measures). It may use external advisory services in its evaluation.

² It may require the employee to cooperate in the implementation of rehabilitation measures.

¹ FINMA pays the social allowances in full as long as the salary is maintained according to the art. 25, para. 1 to 3, then entitlement to allowances is extinguished.

² It reduces or eliminates the right to pay if the employee has caused the illness or accident intentionally or by gross negligence or, consciously, has exposed itself to an extraordinary danger or started in a reckless business.

³ If the employee refuses, without any legitimate reason, to cooperate in the implementation of the rehabilitation measures referred to in s. 25 A , it can reduce the right to pay under s. 25, para. 1 to 3, or delete it in severe cases.

¹ In the event of an interruption of work due to compulsory military service or Swiss civil protection or alternative civilian service, persons subject to duty shall be entitled to the maintenance of the full salary for 25 working days per year Maximum civilian.

² If the total number of on-call days exceeds these 25 days, the right to pay shall be reduced to 80 % of the normal salary for employees with an obligation to provide assistance and 60 % of the normal salary for employees without obligation to assist them Additional penalty days.

³ In the case of voluntary benefits, the salary shall be maintained for up to five working days as long as the total number of on-call days has not yet reached 25 working days per calendar year.

⁴ If the compensation for loss of gain exceeds the right to pay, the wage is paid in the form of compensation for loss of gain.

In the event of the death of the employee, the payment of the salary shall be maintained for the current month and for an additional two months.

¹ In the event of an interruption of work due to maternity, the usual salary is maintained for sixteen weeks. ¹

² ... ²

³ Upon request, the work may be terminated as early maternity leave up to two weeks before the expected date of delivery. The rest of the leave must be taken immediately after delivery.

⁴ In the case of care and education of young children under one year of age for subsequent adoption, the majority of the child care worker may, after the first year of engagement, Interrupt the work for two months while continuing to collect his regular salary.

Insurance benefits are deducted from the salary maintained.

¹ The normal weekly working time is 42 hours for full-time employees.

² The normal working time is reduced in proportion to the occupancy rate for part-time employees.

³ Working time must be entered subject to s. 32.

¹ Overtime hours are hours worked outside normal work at the request of FINMA. Overnight work and Sunday's work on request are also considered overtime.

² Overtime is generally compensated for by free time of equal duration.

³ If overtime cannot be compensated, it may, on an exceptional basis, result in financial compensation. ¹

⁴ The regulation of overtime does not apply to employees affected by the working time based on confidence.

¹ The working time of employees classified in the two highest salary ranges and the director is based on trust and is not subject to the obligation of attachment.

² The above persons may compensate for the working time provided above the normal working time defined in Art. 31, para. 1, as part of the working time based on trust. They are not entitled to financial compensation.

¹ FINMA employees are entitled to five weeks of vacation per calendar year.

² Before the calendar year in which the employee reaches the age of 20 and from the year in which he reaches the age of 50, the right to a vacation shall be six weeks.

³ FINMA may, in justified cases and taking into account the needs of the operation, grant employees paid leave or leave without pay.

¹ The employees are insured with the pension fund of the Confederation PUBLICA against the risks of old age, death and disability in accordance with the provisions of the Act of 20 December 2006 on PUBLICA ¹ , section 4 B The Act of 24 March 2000 on the personnel of the Confederation ² And the settlement of foresight for the employees and beneficiaries of the Pension Fund of the FINMA.

² ... ³

¹ When a person receives a full transitional pension or a transitional half-annuity, FINMA pays half of the cost of financing the transitional pension actually collected if:

A.

The person concerned is 62 years of age; and

B.

The work reports lasted at least five years prior to retirement.

² If the conditions of para. 1 is not fulfilled, FINMA participates in costs up to 25 %.

¹ The Joint Supervisory Board of the FINMA Provident Fund is composed of three representatives of the employees and three representatives of the employer.

² Only members of the joint body of the competent and qualified persons may be elected for the exercise of their management task. A fair representation of the sexes and of official languages should be ensured.

³ The Chair consists of a representative of the employees and a representative of the employer. She is appointed once again every two years, the term of office of president and vice president alternating between employer and employee representatives.

⁴ The Joint Body shall establish an organisational regulation setting out in particular the details of its organisation and tasks, meetings, agendas, decision-making processes and costs.

¹ The term of office of the members of the Joint Body is four years.

² Employer representatives are appointed by the direction of FINMA.

³ Employees' representatives are elected by secret ballot by a simple majority. In the case of a tie, there is a draw.

⁴ All FINMA staff members who are insured with the FINMA Provident Fund have the right to elect and be elected.

⁵ Members of the Board of Directors of FINMA may not be elected as representatives of employees.

¹ Elections are held at the latest in the fourth quarter of the year preceding a new administrative period.

² The date of the election is communicated on the intranet at least six weeks in advance. Candidates must announce their intention to present themselves up to twenty days before the date of the elections.

³ Four candidates are required for the elections to be held. If there are only three candidates, there is a tacit election.

⁴ If a representative of employees puts an end to his or her term of office, he or she is replaced by the unsuccessful candidate in the previous election with the best result.

⁵ The Joint Body shall define the procedures for the election procedure.

¹ The exercise of an annex or public service requires the authorization of FINMA.

² Apart from the time devoted to FINMA, part-time employees are authorised to carry on an activity for third parties unrelated to FINMA, subject to the compatibility of this activity with the activity carried out for FINMA. They must report to FINMA the nature and extent of this activity.

The exercise of an activity outside of FINMA, an annex activity or a public service is incompatible with the commitment to FINMA if:

A.

Damages the reputation of FINMA;

B.

Gives rise to a conflict of interest with the activity of FINMA.

¹ FINMA staff behave and express themselves in a manner that guarantees the reputation and credibility of FINMA and refrain from any behaviour that may harm the FINMA.

² They avoid any conflict between their own interests and those of FINMA, or report them when they cannot be avoided.

³ The board of directors shall issue a code of conduct.

¹ If a FINMA collaborator is in the service of a taxable person, he or she must inform FINMA at the time of conclusion of the contract.

² FINMA may take measures to avoid conflicts of interest, such as the release of the obligation to work, transfer or recusal.

³ At the time of conclusion of a contract of employment with a collaborator who will be directly responsible for the supervision of taxable persons with whom he will be in permanent contact, a prohibition on working in the service of those taxable persons up to one Year after the beginning of the termination period is agreed, without compensation for the period after the end of the working reports.

⁴ If monitoring by para. 3 is exercised by several employees, the waiting period is only agreed for their direct superiors.

⁵ Management refers to functions according to paras. 3 and 4.

Collaborators are not eligible for individual benefits from monitored institutions.

¹ When the parties to a dispute arising from the working relationship do not reach an agreement, FINMA will decide by way of decision.

² The remedy is governed by the general provisions of the federal procedure.

The claims arising from the working reports are prescribed independently of the date on which they ended:

A.

Generally, after the expiry of a period of five years from the due date of the claim;

B.

In accordance with the provisions of the criminal law, since the claim is based on a constituent element of a criminal offence for which a longer limitation period is foreseen.

During a transitional period of five years from the full entry into force of the Act of 20 December 2006 on PUBLICA ¹ , FINMA pays half of the costs associated with financing the transitional annuity under s. 35 as soon as the person concerned reaches 60 years of age and regardless of the duration of the working reports.

¹ The former right is applicable to the working reports whose trial period is in progress at the time of entry into force of the amendment of 25 February 2015.

² The provisions of Art. 15, para. 2, let. B and c, 3 and 4, and art. 25 of the new right shall apply if the incapacity to work due to illness or accident existed prior to the entry into force of the amendment of 25 February 2015 or at the time of the amendment.

This order shall enter into force on 1 ^Er January 2009.