Bank am Bellevue appeals against FINMA ruling
(Thomson Reuters ONE) -
Bellevue Group AG /
Bank am Bellevue appeals against FINMA ruling
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The issuer is solely responsible for the content of this announcement.
Bank am Bellevue disagrees with the stated facts and applied law of the FINMA
ruling in the sia Abrasives case, and is filing an appeal before the Federal
Administrative Court.
In its decision dated 14 March 2011, FINMA concluded that Bank am Bellevue had
"parked" shares on behalf of the investor Giorgio Behr, thereby assisting him to
build up an undisclosed position in sia Abrasives. FINMA ruled that this
represented a serious breach of Bank am Bellevue's warranty obligation.
Bank am Bellevue is convinced that the charge of "parking" sia shares is
inapplicable. A well-known expert supports the Bank in this interpretation. Bank
am Bellevue has therefore filed an appeal before the Federal Administrative
Court in this regard as well as against other conclusions that have derived from
the main ruling.
For further information:
Media/Investor Relations: Daniel Koller, CFO
Tel. +41 44 267 67 00, fax +41 44 267 67 01, e-mail dak(at)bellevue.ch
Bellevue Group
Bellevue Group is an independent Swiss financial group domiciled in Küsnacht.
The parent company, Bellevue Group AG, is listed on the SIX Swiss Exchange.
Bank am Bellevue is a provider of research and brokerage services in Swiss
equities and selected international stocks as well as corporate finance
services.
--- End of Message ---
Bellevue Group AG
Seestrasse 16; Postfach Küsnacht/Zürich Switzerland
WKN: A0LG3Z;ISIN: CH0028422100;
Press Release Bellevue Group_13.04.11 (PDF):
http://hugin.info/137269/R/1506102/440926.pdf
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originality of the information contained therein.
Source: Bellevue Group AG via Thomson Reuters ONE
[HUG#1506102]
Unternehmensinformation / Kurzprofil:
Datum: 13.04.2011 - 18:15 Uhr
Sprache: Deutsch
News-ID 53497
Anzahl Zeichen: 2620
contact information:
Town:
Küsnacht/Zürich
Kategorie:
Business News
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"Bank am Bellevue appeals against FINMA ruling"
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