-Swiss regulator fines Coutts
Global Banking News - 03 February 2017
The Swiss financial regulator has fined Coutts & Co for violating money-laundering rules, according to Bloomberg.
The firm was fined for illegally profiting from transactions related to 1Malaysia Development Bhd (1MDB). Prosecutors are to review a decision on whether the bank should face a criminal investigation in the case.
In a statement, Finma, the regulator, said that Coutts & Co, which is owned by Royal Bank of Scotland Group (LSE: RB...