Swiss regulator proposes sanctions against GAM for not disclosing liabilities

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Swiss regulator proposes sanctions against GAM for not disclosing liabilities

SIX Exchange Regulation AG (SIX), the Swiss listing authority, has announced the submission of a sanction proposal to its Sanctions Commission in relation to a technical accounting matter at GAM Holding AG. The matter relates to the recognition of future performance fee payments as a financial liability following GAM's acquisition of Cantab Capital Partners LLP (Cantab) in 2016. GAM takes its financial reporting responsibility very seriously, disagrees with the position taken by SIX and...

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