16.3 C
Innichen
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

Related posts

Crypto DX.Exchange seeks to shake up Nasdaq stock markets

Amme Jhonson

Money Dashboard appoints ex-PayPal CEO as new chair

Amme Jhonson

Lemon Way nabs €25 million investment from Toscafund

Amme Jhonson

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Policy