"Corrupt" relationships prompt £18m fine for Julius Baer wealth managers

Julius Baer International has beenpenalised just over £18 millionfor a lack of reasonable care that led to senior managers ignoring "obvious signs" of "corrupt" relationships.

By Neasa MacErlean

The FCA, which levied the fine on the investment advisory and wealth management firm, has also decided to ban three employees - although the three have appealed to the Upper Tribunal.