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-Swiss regulator fines Coutts

Feb 03, 2017 - Global Banking News

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...