Swiss financial body Finma discontinues 1MDB probe into UBS

ReutersPublished: Apr 5, 2017 11:02 AM | Updated: Apr 5, 2017 1:01 PM

Swiss financial body Finma said yesterday it had discontinued its investigation into UBS Group AG in connection with the scandal-tainted 1MDB fund.

“Finma recently discontinued its investigation into UBS. Finma found no systematic, serious misconduct, but sent the bank a written reprimand,” Finma said in a statement following its annual media conference.

In October, UBS was fined S$1.3 million (RM4.11 million) by Singapore's central bank for breaches in Singapore's anti-money-laundering law.

- Reuters

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