April 4, 2017 / 4:29 PM / 2 years ago

Swiss financial body FINMA discontinues 1MDB investigation into UBS

ZURICH (Reuters) - Swiss financial body FINMA said on Tuesday it had discontinued its investigation into UBS Group AG (UBSG.S) in connection with Malaysia’s scandal-tainted 1MDB fund.

The logo of Swiss Financial Market Supervisory Authority FINMA is seen outside their headquarters in Bern, Switzerland April 5, 2016. REUTERS/Ruben Sprich

“FINMA recently discontinued its investigation into UBS. FINMA found no systematic, serious misconduct, but sent the bank a written reprimand,” FINMA said in a statement following its annual media conference.

In October, UBS was fined 1.3 million Singapore dollars ($930,000) by Singapore’s central bank for breaches in Singapore’s anti-money laundering law.

Reporting by Silke Koltrowitz

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below