6 Articles
6 Articles
The Monegasque financial security authority points to "a global failure of the compliance and internal control system" of the Swiss subsidiary in the Principality.
The Monegasque Financial Security Authority has addressed a variety of regulatory compliance gaps.
The Monegasque Financial Market Authority has imposed a penalty payment on Grossbank UBS for "numerous, serious violations" in the fight against money laundering and terrorism.
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allaboutshipping.co.ukMonaco hits UBS with €6 million fine over compliance failures
Monaco’s financial watchdog has imposed a €6 million penalty on the local subsidiary of UBS after uncovering major shortcomings in its anti-money laundering controls and oversight of high-risk clients. The sanction, handed down by the Autorité Monégasque de Sécurité Financière, follows an extensive investigation into the bank’s practices between 2018 and 2023. Regulators concluded that […] The post Monaco hits UBS with €6 million fine over compl…
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