Rothschild Bank AG and one of its subsidiaries committed serious violations of anti-money laundering rules in relation to 1MDB, according to FINMA.
Switzerland’s financial regulator FINMA said in a statement on Friday it was nonetheless closing its probe into Rothschild.
Rothschild Bank AG is part of Paris-listed Rothschild & Co.
It also said it will review the steps the institution has taken to tighten up its procedures.
Rothschild Bank AG said it noted FINMA’s comments and regretted the breaches that occurred.
“We constantly strengthen our systems and procedures and are determined to continue to do so to identify and combat the increasingly sophisticated financial crime faced by the industry,” the bank said in a statement.
The investigation is the seventh and last undertaken by FINMA into 1MDB.