Julius Baer says ban on acquisitions lifted by Swiss watchdog FINMA

ZURICH (Reuters) – Swiss market watchdog FINMA has lifted a ban on large acquisitions it levied against Julius Baer last year for failings in combating money laundering, the Swiss private bank said on Wednesday.

“Julius Baer welcomes the lifting of the ban on complex acquisitions given the significant progress the bank has made in strengthening its company-wide risk management, particularly with regard to money laundering prevention,” the bank said in a statement.

(Reporting by John Miller; Editing by Michael Shields)