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The Federal administrative court rüffelt Finma

The Federal administrative court in St. Gallen's financial market Supervisory authority Finma . The Supervisory authority established in 2016 in the case of the Ticino Bank BSI from serious flaws and has moved in winnings over a period of 95 million Swiss francs. This meant that the Bank had no future and in the Bank EFG came up.

The Bank BSI played in the affair by the Malaysian state Fund 1MDB has an important role, also showed up at the Brazilian Petrobras scandal and paid in US tax dispute a fine. Finma is said to have punished the Bank hard for their transgressions.

In the Canton of Ticino, many believed that the relatively small Ticinese Institute, an example was made. The Bank BSI put in three years ago, objecting to the procedure. The Federal administrative court confirmed the sin register of the Bank.

The judges consider, but the fixing of the punishment as not understandable – it was appreciated by the Finma. "A recovery may, however, correspond only to the in fact, by the violation of profit", it means in the decision of the Federal administrative court. The case goes back now to the Finma.

Created: 03.12.2019, 21:03 PM

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