Swiss Lift M&A Ban On Julius Baer After AML Failings
Law360, London (March 31, 2021, 3:43 PM BST) -- Switzerland's banking regulator said on Wednesday that it has lifted its restrictions on private bank Julius Baer, saying the lender has addressed money laundering concerns that led the watchdog to ban it from making large acquisitions.
The Swiss Financial Market Supervisory Authority, or FINMA, said it has decided to end its temporary ban on Julius Baer Gruppe AG's ability to take part in large or complex mergers and acquisitions. The regulator placed the restrictions on the company when an investigation found that its anti-money laundering controls were subpar, and had been deficient for nearly a decade.
The watchdog said it decided...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!