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FINMA lifts ban on acquisitions

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Zurich, 31 March 2021 – Julius Baer has been informed by FINMA that it is formally lifting the ban imposed in February 2020 on the execution of acquisitions that lead to a significant increase in operating risks and in organisational complexity (FINMA press release of 20 February 2020).

This decision is based on a status report from FINMA’s mandated auditor, which is supervising the implementation of the measures ordered by FINMA and the Bank’s own measures.

FINMA will continue to closely accompany Julius Baer until the full implementation of these measures through the mandated auditor and additional supervisory measures.

Julius Baer welcomes the lifting of the ban on complex acquisitions given the significant progress the Bank has made in strengthening its company-wide risk management, particularly with regard to money laundering prevention.

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