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Deferred Prosecution Agreement in the U.S. resolved
Julius Baer has resolved its Deferred Prosecution Agreement (DPA) with the U.S. Department of Justice to settle its liability in connection with its legacy U.S. cross-border private banking business. Since Julius Baer fulfilled its obligations under the DPA, the U.S. Attorney’s Office for the Southern District of New York filed a motion to dismiss the charges.
Julius Baer confirms that the competent U.S. Federal Court in New York has approved the motion as filed on 4 February 2019 and formally dismissed the charges against the Bank, thereby terminating the DPA.
Bernhard Hodler, Chief Executive Officer of Julius Baer Group Ltd., said: “This important step confirms Julius Baer’s approach to cooperating constructively with competent authorities and our commitment to fulfill our regulatory obligations and responsibilities.”