Swiss regulator drops M&A ban on Julius Baer

Mark Battersby
clock • 1 min read

Zurich-headquartered Julius Baer Group got the green light from Swiss regulator FINMA to make large acquisitions again, after a ban imposed just over a year ago over money laundering control failings in its Latin America business was lifted. Julius Baer said in statement that it had been informed by FINMA that it was "formally lifting the ban imposed in February 2020 on the execution of acquisitions that lead to a significant increase in operating risks and in organisational complexity". The decision was based on a status report from FINMA's mandated auditor, which was supervising the...

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