Monaco’s Financial Regulatory Body Rebukes Julius Baer Bank’s Inadequate Controls on 160 Million Euro Transactions

Résumé:
Monaco’s financial watchdog reprimands Julius Baer for lacking internal controls over client transactions.

Histoire complète :
Monaco’s financial regulatory body, the Commission de Controle des Activites Financieres, has reprimanded the local branch of Swiss bank Julius Baer Group Ltd. for its inadequate internal controls regarding 160 million euros in client transactions. The Commission discovered that Julius Baer bankers did not have appropriate measures in place for a series of 10 transactions.

Source:
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