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Bank am Bellevue appeals against FINMA ruling


April 13, 2011 - London

Bellevue Group AG /Bank am Bellevue appeals against FINMA ruling. Processed and transmitted by Thomson Reuters ONE.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@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.

Press Release Bellevue Group_13.04.11 (PDF)

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Bellevue Group AG
Seestrasse 16; Postfach Küsnacht/Zürich Switzerland

WKN: A0LG3Z;ISIN: CH0028422100;




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Source: Bellevue Group AG via Thomson Reuters ONE

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