Swiss National Bank Directors Cleared Of Insider Trading

Law360, New York (March 7, 2012, 7:26 PM EST) -- Directors of the Swiss National Bank have been cleared of any wrongdoing by an investigation performed by KPMG LLP after the bank's president resigned in January amid accusations that he and his wife had profited off insider information about the weakening of Switzerland's currency, the bank said Wednesday.

KPMG audited transactions made from 2009 to 2011 by ex-president Phillip Hildebrand — as well as by the vice chairman of the bank's governing board, Thomas Jordan, and board member Jean-Pierre Danthine — and found no evidence of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.