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FINANCIALS: FINMA opens enforcement action against Julius Baer

FINANCIALS
BulletCredit BulletsCEEMEASwitzerland

"*FINMA SAYS IT OPENED ENFORCEMENT PROCEEDING AGAINST JULIUS BAER" - bbg

 - This will be in relation to the Signa loans, will involve some sort of redress. The departure of the CEO and the bank pulling out of private lending should go some way to addressing the issues raised. There will be uncertainty over the scale of the impending fine, but Baer's CFO has said that there will be no shareholder returns until ''next year".

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"*FINMA SAYS IT OPENED ENFORCEMENT PROCEEDING AGAINST JULIUS BAER" - bbg

 - This will be in relation to the Signa loans, will involve some sort of redress. The departure of the CEO and the bank pulling out of private lending should go some way to addressing the issues raised. There will be uncertainty over the scale of the impending fine, but Baer's CFO has said that there will be no shareholder returns until ''next year".