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Release Date: 10th February 2022

To access the original FCA document, click here.


Julius Baer International Limited (JBI) was fined £18,022,500 by the Financial Conduct Authority (FCA) on 10 February 2022. The fine was reduced from £24,496,700 due to an early settlement agreement. The FCA identified significant breaches of the Authority’s Principles for Businesses between 1 March 2007 and 7 July 2014, particularly concerning the facilitation of improper commission payments and failure to manage financial crime risks.

Key Takeaways for Other Firms:

Summary of Findings:

In conclusion, the FCA’s action against JBI highlights the critical importance of maintaining integrity, robust governance, and effective risk management systems. Firms must ensure transparent operations, swift action on red flags, and adherence to regulatory expectations to avoid similar penalties and reputational damage.

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