Switzerland
Credit Suisse sets up wealth mgmt firm in Channel Islands
With Credit Suisse ending direct client coverage out of the Channel Islands, the Swiss bank has set up a wealth management firm with local financial service provider Stenham Group, that will act as an external asset manager (EAM) for the bank regionally and elsewhere.
Singapore shuts down second Swiss bank, fines DBS and UBS
The Monetary Authority of Singapore (MAS) has ordered that Falcon Private Bank in Singapore be shut down for serious failures in anti-money laundering (AML) controls and improper conduct by senior management at the Singapore branch, as well as the head office in Switzerland.
Two ex-BSI bankers in Singapore charged in 1MDB probe
Two former bankers for Switzerland’s BSI Bank have been charged by the Singapore police as part of their investigation into 1Malaysia Development Bhd (1MDB).
France requests data on 45,000 UBS accounts from Switzerland
French tax authorities have asked Switzerland to name the holders of 45,161 bank accounts as part of an investigation into alleged tax fraud, French news service AFP has reported.
Singapore signs fintech agreement with Switzerland
The Monetary Authority of Singapore (Mas) and the Swiss Financial Market Supervisory Authority (Finma) signed a cooperation agreement on Monday to foster greater cooperation on fintech.