HALISTER1: Falcon to Get Licence Withdrawn If Further Breach: Swiss Finma

Falcon to Get Licence Withdrawn If Further Breach: Swiss Finma

(Bloomberg) -- Swiss Financial Market Supervisory Authority says Falcon Private Bank Ltd. seriously breached money laundering regulations by failing to carry out adequate background checks into transactions and business relationships associated with Malaysia’s 1MDB, according to statement on website.
  • "FINMA has ordered the disgorgement of illegally generated profits amounting to CHF 2.5 million and banned the bank from entering into business relationships with foreign politically exposed persons for a period of three years": statement
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
181586Z UH (Abu Dhabi Investment Authority)

To de-activate this alert, click here

UUID: 7947283