FINMA concludes proceedings against Swiss Fund Management AG in liquidation and BZ Berater Zentrum AG and enforces rules of conduct in the financial services sector

Summary

The Swiss Financial Market Supervisory Authority FINMA has concluded enforcement proceedings against two institutions and one individual for serious breaches of the rules of conduct governing the provision of financial services under the FinSA. To restore compliance with the law and protect investors, FINMA ordered various measures. It withdrew Swiss Fund Management AG in liquidation’s licence to manage funds. An application by BZ Berater Zentrum AG for authorisation as an independent portfol...