Swiss Regulator Orders Leonteq to Disgorge 9.3 Million Francs
(Reuters) - Leonteq has been ordered to disgorge profits worth 9.3 million Swiss francs ($10.52 million), Switzerland's financial regulator said on Thursday, following a probe that found the investment services provider breached risk management obligations.
The regulator, FINMA, said it would appoint an audit mandatary to monitor the correct implementation of measures imposed to ensure compliance with the law is restored.
The decision is not yet legally binding, according to a statement from the agency.
($1 = 0.8838 Swiss francs)
(Reporting by Rachel More; Editing by Dave Graham)
