Swiss financial market regulator, FINMA, has ordered Julius Baer to pay SFr4m ($5m) for serious breaches of AML and compliance regulations, according to reports in the FT. The investigation revealed that the bank failed to adequately identify or act upon suspicious transactions involving high-risk clients between 2009 and 2019.
FINMA concluded
Register for free to keep reading
To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.
- Unlimited access to industry insights
- Stay on top of key rules and regulatory changes with our Rules Navigator
- Ad-free experience with no distractions
- Regular podcasts from trusted external experts
- Fresh compliance and regulatory content every day