Tuesday 4 April 2017

1MDB. Won't Go Away

Is a minor hit for Vertical Horizon from the album Go .

1MDB, won't go away. Bloomberg has the story below ;

Switzerland’s financial regulator said it’s still probing UBS Group AG and three other private banks in relation to alleged corruption and money laundering at the Malaysian government fund known as 1MDB.

“There are still a handful of cases related to 1MDB that have not been concluded,” Mark Branson, chief executive officer of the regulator Finma, told reporters in Bern on Tuesday. He later added that four banks are still under scrutiny.

Four cases remain unresolved, including an enforcement proceeding against UBS, the largest Swiss bank, according to Vinzenz Mathys, a spokesman for Finma. The regulator hasn’t named the other three banks.