Swiss regulator proceeds with MBaer Bank liquidation
FINMA confirmed the liquidation of MBaer Merchant Bank today after the bank withdrew its appeal. The move follows US threats over alleged sanctions breaches.
Xurve View
Xurve View
The Swiss financial regulator FINMA has announced that the liquidation order for MBaer Merchant Bank AG is now officially in effect. This move follows a period of intense pressure from international regulators concerning the bank's adherence to global sanctions.
In Switzerland, the regulator moved to implement the order after the United States threatened to block the bank's access to the U.S. financial system. The threat was linked to the bank's alleged involvement in transactions that breached sanctions against Iran, Russia, and Venezuela.
