Pursuits
Swiss Regulator Probes Coutts in International Investigation
- Finma has opened enforcement proceedings against Coutts & Co.
- Coutts is cooperating with other jurisdictions, RBS says
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Royal Bank of Scotland Group Plc said regulators are investigating the Coutts International private-banking business it sold to Union Bancaire Privee last year.
The Swiss Financial Market Supervisory Authority, known as Finma, has opened enforcement proceedings into Zurich-based Coutts & Co. and the firm is cooperating with other jurisdictions, RBS said in litigation notes appended to its first-quarter results statement on Friday, without providing details.