FINMA Slams Julius Baer Over Benko Loans and Seizes Millions
8 Articles
8 Articles
Distributions to shareholders will now have to be validated by the regulator. Three former employees are being prosecuted separately for their role in violations of the rules of supervision and compliance.The financial market officer Finma has closed a compliance procedure against Julius Bär, the fifth in less than ten years, regarding the debacle of the fortune manager in the private loans granted to the Signa group and in a money laundering ca…
The finma's report is devastating, and we're talking about ignored warning signals and commissions in millions of dollars.
The Bank Julius Bär can draw a conclusion from the regulatory side under the Signa-Pleite. Financial Market Supervision Finma has now completed its investigation.
Private bank crossed all lines, leaving advisers of leash, who filled pockets. Russian PEPs served – a bear banker was tied with one. The finma publishes the longest criminal notice of its history: against the Zurich Julius Bear. The pillory is necessary. For the 5th time within 10 years the finma had to make an enforcement against the bear. One every two years – never hered of. [...]
FINMA Slams Julius Baer Over Benko Loans and Seizes Millions
Swiss financial regulator FINMA has concluded its investigations into Julius Baer’s private debt dealings linked to René Benko and relationships with clients connected to Russian politically exposed persons. It found serious regulatory breaches and imposed further measures. The bank must maintain an additional 250 million Swiss francs in capital and surrender around 10 million Swiss francs in profits. Julius Baer describes the cases as legacy is…
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