BSI has taken a jab at Swiss regulator, FINMA, labelling the watchdog’s procedures “flawed in many respects” and appealing its CHF95 million (US$96.3 million) fine for breaches relating to embroiled Malaysian sovereign wealth fund, 1MDB. In a media release, the Lugano-headquartered bank said that FINMA’s decision to fine BSI was “disproportionate and incorrect”. BSI is grounding its appeal on the basis that it has been in continuous…
Resolute BSI labels Swiss regulator’s procedures “flawed”, appeals 1MDB fine
24 June 2016

Share article
Share article
Related News

Swiss private bank partners £1.7B boutique for Asia equity push
3 March 2022

Movers & Shakers – Jan 2022: Private bankers eye larger bonus this year
17 February 2022

UBS bulks up sustainable finance team in Hong Kong
7 January 2022

December Regulatory Round-up: HKMA raises banks’ awareness of climate risks; HK, S’pore regulators join forces in curbing ramp-and-dump schemes; Singapore and China widen financial cooperation
3 January 2022

Exclusive
APB’s 2021 Holiday Season Crossword
22 December 2021

Exclusive
Digitalisation appeals to the new breed of HNWI clients: Maggie Ng, Hong Kong head of HSBC WPB
10 November 2021

Movers & Shakers – October 2021
2 November 2021

September regulatory round-up: WM Connect and Southbound Bond Connect launched; International FIs expand in China; HK and S’pore regulators issue SPAC listing rules
8 October 2021

Equity-linked structured products in internet and tech dominated OTC sales in 2020: SFC-HKMA report
8 October 2021

August Regulatory Round-up: SFC fines UBS over multiple reg breaches; HK and SG regulators promote use of AML regtech; China strikes balance between inclusive growth and foreign investment
27 August 2021

China regulators strike balance between promoting inclusive growth and attracting foreign investment
20 August 2021

Exclusive
CIO Weekly – Chinese regulators aim to develop the domestic capital market infrastructure: Eli Lee of Bank of Singapore
19 August 2021