HALISTER1: Swiss Banks Cast in Negative Light by Corruption Scandals: Finma

Swiss Banks Cast in Negative Light by Corruption Scandals: Finma

(Bloomberg) -- Corruption cases involving Swiss banks have increased as the institutions expand into emerging markets such as Brazil and Malaysia, Thomas Bauer, chairman of financial regulator Finma, quoted as telling Le Matin Dimanche.
  • Petrobras, 1MDB scandals show it’s essential banks understand the new risks and know how to act to avoid exposure
  • Sees growing vigilance by banks against money laundering
  • Declines to comment on Credit Suisse tax probe, confirms Finma is in touch with the bank
  • NOTE: Finma Says Wealth Managers Need More Time to Deal With Past

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
0206021D MK (1Malaysia Development Bhd)
PETR4 BZ (Petroleo Brasileiro SA)

People
Thomas Bauer (Bauer AG)

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