A Swiss bank’s former chief executive officer has been sanctioned by the country’s financial regulator for insider trading in his wife’s name and for what Finma called other “serious breaches of supervisory law.”
The man executed the trades of shares of a separately listed company using his wife’s account at other lenders for several years, violating his bank’s internal directives, Finma said Friday in a statement. The identities of the bank and its ex-CEO weren’t disclosed, as is often the case in Switzerland.
Illicit profits of 730,000 Swiss francs ($752,000) were confiscated and he also faces a four-year ban from ...
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