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Swiss financial regulator orders sanctions for insider-trading schemes

( June 23, 2017, 09:29 GMT | Official Statement) -- MLex Summary: The Swiss financial markets regulator Finma has issued a series of sanctions on individuals and a company involved in two insider-trading schemes. Finma ordered the disgorgement of approximately 1.4 million francs ($1.4 million) from a board member of several "well-known" Swiss companies, who had illegally traded on private company information. The Swiss prosecutor has opened criminal proceedings against the individual. In a separate case, it has banned three traders from working in securities trading for six to eight years, and barred two of them from taking up management positions in the finance sector for several years. Finma also said it expects to recover more than a million francs from the company used to carry out the illegal trading, once it is liquidated.Full statement follows. ...

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