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.
“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