Which authority is recorded against Mirabaud & Cie SA?

The entry is recorded against FINMA, in the Switzerland jurisdiction, under the theme Client due diligence · documentation.

What is the current status of this entry?

Status: Enforcement proceedings concluded. Last recorded change: 14 May 2024. The matter arose or was first recorded on 14 May 2024.

How was this matter brought to light?

FINMA enforcement proceedings. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.

Where can the primary sources for CH-2024-04 be checked?

The entry links to FINMA press release, 17 September 2024.

CH-2024-04 · Switzerland · 2024

FINMA finds anti-money-laundering obligations seriously breached

FINMA determined that the bank failed to review and document sufficiently the economic background of client relationships and transactions, and barred it from accepting new clients with increased money-laundering risk until compliance is restored.

Bank vault door, illustrating FINMA findings on client due-diligence documentation — Illustrative image · Mirabaud & Cie SA

Institution: Mirabaud & Cie SA
Authority: FINMA
Status: Enforcement proceedings concluded
Theme: Client due diligence · documentation
Raised by: FINMA enforcement proceedings
Jurisdiction: Switzerland
Matter arose: 14 May 2024
Last recorded: 14 May 2024

What the sources record

The finding was made in enforcement proceedings and published on 17 September 2024.

The restriction on onboarding higher-risk clients applies until the supervisor is satisfied that obligations are met.

Primary sources

FINMA press release, 17 September 2024

Questions and answers on this entry

What does register entry CH-2024-04 record?: FINMA finds anti-money-laundering obligations seriously breached. FINMA determined that the bank failed to review and document sufficiently the economic background of client relationships and transactions, and barred it from accepting new clients with increased money-laundering risk until compliance is restored.
Which authority is recorded against Mirabaud & Cie SA?: The entry is recorded against FINMA, in the Switzerland jurisdiction, under the theme Client due diligence · documentation.
What is the current status of this entry?: Status: Enforcement proceedings concluded. Last recorded change: 14 May 2024. The matter arose or was first recorded on 14 May 2024.
How was this matter brought to light?: FINMA enforcement proceedings. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.
Where can the primary sources for CH-2024-04 be checked?: The entry links to FINMA press release, 17 September 2024.

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