Swiss Watchdog FINMA Warns Against Timber Hill Suisse

FINMA, the Swiss Financial Market Supervisory Authority, has updated its blacklist of companies that are illegally conducting financial services and targeting Swiss residents.

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The newly listed company is an asset management provider named Timber Hill Suisse. The Swiss authority located the company address via its website www.timberhill-ch.com which reveals that the firm offers several financial services including managed accounts, Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term platforms and asset management plans.

According to Timber Hill Suisse’s website, it claims to operate as a Swiss private banking boutique with 50 years of expertise in wealth management to private clients and corporations. In the ‘About Us’ section, the company assures its clients that as an authorised firm by FINMA, they will benefit from protection of their deposits of up to CHF 100,000 per client in Bankruptcy Bankruptcy Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy, it is described as a voluntary bankruptcy, and when your debtors force you into bankruptcy, it is referred to as involuntary. A voluntary bankruptcy occurs when the debtor or borrower, the party that owes the money files with the courts. Involuntary bankruptcy happens when your credits file a petition with the co Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy, it is described as a voluntary bankruptcy, and when your debtors force you into bankruptcy, it is referred to as involuntary. A voluntary bankruptcy occurs when the debtor or borrower, the party that owes the money files with the courts. Involuntary bankruptcy happens when your credits file a petition with the co Read this Term proceedings.

Although the financial watchdog didn’t provide specific details, the inclusion of Timber Hill means that it is not officially registered in Switzerland and was thus not authorized to offer its trading services to Swiss traders.