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.”