Swiss watchdog sanctions Falcon bank in 1MDB case

Swiss watchdog sanctions Falcon bank in 1MDB case
 

Switzerland's financial watchdog FINMA has sanctioned Falcon Private Bank Ltd after it "seriously breached" money-laundering regulations over its handling of funds linked to scandal-hit Malaysian state investment fund 1MDB, FINMA said on Tuesday.
FINMA, the Financial Market Supervisory Authority, ordered Zurich-based Falcon, owned by Abu Dhabi's International Petroleum Investment Co (IPIC), to turn over 2.5 million Swiss francs (2.06 million pounds) in what the watchdog said were illegal profits.
It also said it has opened enforcement proceedings against two former Falcon... read more

 
11 October 2016 in Business, Views: 35
Source: Reuters
Share:
  •  





    News Widget for Webmasters



    Bring Eugene's son back home immediately

    Realtime News

     

    «
    »
    Mo Tu We Th Fr Sa Su
          1 2 3 4
    5 6 7 8 9 10 11
    12 13 14 15 16 17 18
    19 20 21 22 23 24 25
    26 27 28 29 30 31