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Bruno Frick to step down from FINMA board of directors

Chris Hamblin, Editor, London, 23 May 2017

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Bruno Frick will step down from the board of directors of Switzerland's financial regulatory body at the end of August. He has served on the board for four years and will concentrate in future on his activities as a lawyer and notary.

The Federal Council, Switzerland's "seven-headed president," appointed Bruno Frick to FINMA's board of directors on 1 August 2013. He sat on a number of the board's committees and chaired the takeover committee during his time there. After he leaves the board on 31 August, he will concentrate on his activities as a lawyer and notary and on other directorships.

According to the board's chairman, Frick benefited FINMA by exerting his influence "in the political world."

Once he goes, FINMA's board of directors will have eight members. The statutory requirement is a minimum of seven and a maximum of nine.

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