Hanspeter Brunner, former BSI Asia head
Thursday 14 July 2016
Finma enforcement proceeding
After Singapore, Swiss financial authority opened investigation into former Asia chief of private bank Banca della Svizzera Italiana, or BSI.
After Singapore, Swiss financial authority opened investigation into former Asia chief of private bank Banca della Svizzera Italiana, or BSI.
Finma may be looking to set an example.
In May, Finma opened procedures against two former managers of BSI, as part of its severe sanctions against the bank. The names of the two people involved were not released.
In this week’s edition of Swiss «Handelszeitung» newspaper reports the two are Hanspeter Brunner, Asia chief of BSI, and bank’s former legal counsel Beat Ammann, who departed from senior management back in autumn 2015.
Regulatory Breaches?
Finma is examining whether as CEO of BSI Bank Singapore «could potentially be responsible for breaching regulatory conditions.»
The net is closing on Brunner. Since May, the Singapore regulator MAS has been investigating whether the former Asia chief of BSI and other managers or employees should face criminal proceedings.
Finma Threat
Finma has shown a tendency in recent months to make an example of individual bankers.
In May, Finma opened procedures against two former managers of BSI, as part of its severe sanctions against the bank. The names of the two people involved were not released.
In this week’s edition of Swiss «Handelszeitung» newspaper reports the two are Hanspeter Brunner, Asia chief of BSI, and bank’s former legal counsel Beat Ammann, who departed from senior management back in autumn 2015.
Regulatory Breaches?
Finma is examining whether as CEO of BSI Bank Singapore «could potentially be responsible for breaching regulatory conditions.»
The net is closing on Brunner. Since May, the Singapore regulator MAS has been investigating whether the former Asia chief of BSI and other managers or employees should face criminal proceedings.
Finma Threat
Finma has shown a tendency in recent months to make an example of individual bankers.
My comments : This is the collateral damage from 1MDB. Many other people are going to get burnt. The question is with so much collateral damage, are the real crooks who caused all this damage going to get away scot free? I dont think so.
The wheels are turning. They have got themselves into a life time of trouble.
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