FINMA Sanctions Julius Bär Over Money Laundering and Signa Loans

The Swiss Financial Market Supervisory Authority (FINMA) concluded a compliance procedure against Bank Julius Bär & Co. AG involving money-laundering cases and the collapse of private loans granted to the Austrian Signa Group. As part of the corrective measures, the regulator is requiring the bank to hold an additional CHF250 million in capital.

FINMA confiscated approximately CHF10 million in gains derived from Russian clients categorized as politically exposed and launched proceedings against three unnamed former employees for potential breaches of supervisory law. These sanctions follow a CHF606 million write-down on loans to Signa Holding, a collapse that led to the dismissal of CEO Philipp Rickenbacher.

In response to the failures, Bank Julius Bär & Co. AG has exited the private lending business and implemented a revised risk management framework. Despite the sanctions, the bank confirmed it is maintaining its 2026–2028 strategic objectives and has applied for authorization for a share buyback programme.