Commerzbank Probed for Possible Swiss Reporting BreachNicholas Comfort
Commerzbank AG, Germany’s second-biggest bank, is being investigated by Switzerland’s market regulator over the possible breach of reporting obligations for two structured products.
SIX Exchange Regulation is seeking to determine whether Commerzbank was late in submitting interest-rate fixings for two floating reverse convertibles traded on the Scoach Switzerland index, the Zurich-based watchdog said in a statement on its website today.
Commerzbank, which has listed about 540 structured products on the index, made interest payments on the products for the two periods in due time, according to the statement.
“There was no damage or hassle for investors,” the bank said today in a statement on its website. “Commerzbank emitted hundreds of structured products on Scoach over the years for which SIX’s reporting obligations were always respected.”