FINMA removes Swiss Financial Holding Group from its warning list (UPDATED)


Bankruptcy, FINMA, Switzerland, investment16 August, AtoZForex.com, Lagos – In line with our article published on the 12th of August, AtoZForex has received more information from Swiss Financial Holding Group as well as the Swiss Financial watchdog FINMA.

It appears that after careful evaluation of the company’s operations, Swiss Financial Holding Group has been removed from FINMA’s warning list. 

William J. Forrest, Senior Counsel at Swiss Financial Holding Group commented on this topic as the following:

“Swiss Financial Holding Group has been the victim of a smear campaign and that FINMA has decided – after verification of facts – to remove Swiss Financial Holding Group from its warning list.”

On a seperate note, we have also received the official communication between the SFHG and FINMA where the FINMA representative Florian Schönknecht comments on Swiss Financial Holding Group being white-listed:

“As a result of answering our questions the Swiss Financial Holding Group was removed from the warning list of the FINMA.”

The email also continues about the official meaning of FINMA blacklisting or FINMA Warning list:

“In this regard, we point out that – as noted on our website – a listing on the warning list does not necessarily mean that the pressure exerted by the listed company activity is illegal. FINMA having a company company being listed on the warning list, FINMA points out that these companies do not have authorization from FINMA.”

12 August, AtoZForex.com, Lagos – In line with the Swiss Financial Market Supervisory Authority‘s responsibility of publishing and constantly updating a warning list of companies that might be operating without a license, when their service requires authorization and should be supervised by FINMA. The regulators have again black listed a firm, purported to be operating without due licensing, hence posing danger to investors and the public.

The new firm in the warning list is Swiss Financial Holding Group. This firm describes itself as an investment firm that makes investments in businesses within the global financial services industry. They along with affiliates offer asset management, wealth management and investment banking services (M&A, restructuring, listings). The company claims to have operations spanning the followring regions: Hong Kong ,Cayman Islands – Singapore – Bermuda – St.Vincent and the Grenadines and also claims to have an office in Zurich. But checking the register, the company is not included on the official list.

Naturally, if FINMA receives information that a provider, consciously or not, is operating without authorization, it will investigate the matter. If initial suspicions are confirmed, FINMA can initiate enforcement proceedings and impose measures of varying severity, even closing the company down.

In the case of Swiss Financial Holding Group, the necessary checks and investigation has been carried out, prompting the financial regulator to include the firm in its warning list for the safety of customers.

Share Your Opinion, Write a Comment