Finma wants to shed light on BSI Malaysia

9 years ago - Published in Finance, Fundamental Analysis

The Federal Authorities of the Swiss Financial Market Supervisory Authority (FINMA) has launched a process of "Enforcement" against the former head of Asian Affairs of the BSI Hans Peter Brunner. The aim is to clarify the responsibilities in the matter of money laundering linked to Malaysian fund 1Malaysia Development Berhad (1MDB).

FINMA intends to know whether the former leader is responsible for violations of the legal provisions as part of its executive functions of the BSI in Singapore.

According to reports from news agency Bloomberg – Hans Peter Brunner would initiate legal action against the BSI, his former employer: a complaint has been lodged with a court in Singapore on July 4. Brunner, who resigned last March, said that the Singapore branch of the BSI has not fulfilled its agreements relating to bonuses and termination of employment.