FINMA said September 29 that its latest Julius Baer enforcement proceeding found serious risk-management and anti-money-laundering failures involving private debt and Russian politically exposed persons. The regulator requires CHF250 million of additional capital until specified high-risk assets are separated, reporting through 2032 and approval for distributions. It ordered confiscation of about CHF10 million in profits.
Source / event date: September 29, 2026
The Financial Current · https://thefinancialcurrent.com/news/2026-09-29-finma-julius-baer-control-failures
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Analysis: The case connects concentrated lending, conflicts of interest and customer due diligence. Relaxation of some immediate restrictions does not erase continuing controls. It offers a governance lesson for concentrated credit books, without creating a new U.S. requirement.
FINMA expressly says the ruling is not yet legally binding. This account relies on its public release; the full operative ruling was not publicly inspected.
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