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June 28, 2022
Finance Technologies

Finma fines Swiss bank CEO $752,000 for insider trading

Switzerland’s financial regulator Finma has fined the CEO of an unnamed Swiss bank $752,000 to reap back the illegal profits he made form “serious” insider trading. The executive took advantage of confidential market information about the bank’s clients to trade it through covert deposit accounts owned by his wife at other banks, “thus violat[ing] the bank’s internal directives,” says Finma. “Insider trading undermines confidence in the market,” says Finma’s enforcement head Patric Eymann. “We will, therefore, continue to rigorously investigate any evidence of violations of supervisory law.” In November, the OECD told Finma to allocate more resources to its operations…
Finma fines Swiss bank CEO 2,000 for insider trading

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