Regulators are forcing the Geneva based online bank – Flowbank – into bankruptcy.
Finma says the bank no longer has the necessary capital to continue trading – but the bank disagrees.
In a press release the regulators says the minimum capital requirements, which has to be respected at all times, have been seriously breached.
The bank says it has deposited the necessary funds into a consignment account with another bank and has been waiting for Finma to approve the capital increase.
Liquidators will return assets up to CHF 100,000 to depositors.
A1 works start next week - till October
Two women arrested for burglery after car chase
Geneva and Neuchatel minimum wages could stay
Caritas raises CHF 35m for Ukraine
Crane operator injured after being thrown from cab
Constitution needs to change to help police
