09/16/2020 | Press release | Distributed by Public on 09/15/2020 23:01
Zurich, 16 September 2020 - Following the COVID-related splitting of the 2019 dividend and the approval of the first distribution at the Annual General Meeting on 18 May 2020, the Board of Directors of Julius Baer Group Ltd. is planning to propose the distribution of the second part of the 2019 dividend at an extraordinary shareholder meeting on 2 November 2020.
Subsequent to the closure of an enforcement procedure by the Swiss Financial Markets Authority FINMA against Julius Baer in February 2020, related to the corruption events around the world soccer federation FIFA, the Group continues to pursue the resolution of remaining legacy regulatory and legal matters in cooperation with the relevant authorities.
As previously reported, Julius Baer has been cooperating since 2015 with the U.S. Department of Justice (DOJ) in its investigation of alleged money laundering and corruption involving officials and affiliates of FIFA and associated sports media and marketing companies. The Bank is currently in advanced discussions with the DOJ about reaching a resolution in such matter, which may result in the payment of a double-digit million US dollar amount.
No further comments can be made until an agreement has been reached.