News 29 April 2022 International sanctions2022 Updated sanction notification On April 27, 2022, the Federal Council enacted further sanctions against Russia. To this end, he amended the Ordinance on Measures in Connection with the Situation in Ukraine ( SR 946.231.176.72 ). Further sanctions come into force in the financial sector. Any support for Russian […]
News 04 March 2022 Press release 2022 Sberbank (Switzerland) AG: FINMA orders protective measures To protect creditors, the Swiss Financial Market Supervisory Authority FINMA has ordered protective measures at Sberbank (Switzerland) AG. FINMA has ordered a deferral of the bank’s obligations from deposits until 2 May 2022. The bank is […]
News 18 November 2021 Press release Combating money laundering 2021 Money laundering: FINMA concludes final proceedings connected with Venezuela The Swiss Financial Market Supervisory Authority FINMA has concluded two further proceedings focusing on Venezuelan business relationships. In these, it found that Banca Zarattini & Co. SA along with CBH Compagnie Bancaire Helvétique SA […]
News 21 January 2021 Press release Combating money laundering 2021 Violations of anti-money laundering regulations: FINMA investigated responsibility of Julius Baer managers The Swiss Financial Market Supervisory Authority FINMA has investigated the responsibility of individuals for serious anti-money laundering failings at Julius Baer. It has decided to initiate […]
FINMA reassesses disgorgement of profits in BSI case The Swiss Financial Market Supervisory Authority FINMA has reassessed the disgorgement of profits in the 1MDB enforcement case against BSI. In addition, FINMA has concluded all proceedings against individuals in connection with this case. In two cases it issued industry bans. FINMA […]
News 06 October 2020 Press release 2020 Combating money laundering FINMA concludes proceedings against Banca Credinvest The Swiss Financial Market Supervisory Authority FINMA has found that Banca Credinvest seriously breached anti-money laundering regulations in its handling of Venezuelan client relationships. FINMA recently concluded corresponding enforcement proceedings and imposed a variety of measures. FINMA […]
News 24 September 2020 Press release 2020 Combating money laundering FINMA reprimands Bank SYZ for breaches of anti-money laundering regulations The Swiss Financial Market Supervisory Authority FINMA has determined in enforcement proceedings that Bank SYZ SA breached anti-money laundering regulations. The breaches occurred in the course of a very important business relationship […]
Some stuff I did on Monday… Cleaned up the Events calendar – some stuff scheduled for the next 2-3 months has changed dates, and a bunch of conferences understandably have been scrubbed Added OFAC’s Humanitarian Fact Sheet and FinCEN’s PPP FAQ document to the Guidance and Resources page Added the […]
Serious AML failings at Julius Baer The Swiss Financial Market Supervisory Authority FINMA has found that Julius Baer fell significantly short in combating money laundering between 2009 and early 2018. The shortcomings arose in connection with alleged cases of corruption linked to PDVSA, an oil company, and FIFA, the world […]
FINMA publishes ‘stable coin’ guidelines The Swiss Financial Market Supervisory Authority FINMA today publishes a supplement to its ICO guidelines outlining how it treats so-called ‘stable coins’ under Swiss supervisory law. FINMA has seen a steady increase in the number of ‘stable coin’ projects since 2018. In this context, FINMA […]
Mr. Watchlist 