Loan termination fees for a fixed-rate mortgage
The client had a fixed-rate mortgage with the bank, which they had another bank redeem at maturity. The previous bank charged them a loan termination fee of CHF 400 for this, (…)
Damage after splitting of a crypto currency
The customer was invested in a crypto currency. He held the corresponding credit balance in a securities account at the bank. After the splitting of the crypto currency, the (…)
Missing credit of a subsequent payment on dividends for a custodian client
The client complained to the bank that the bank had not credited him with back payments of dividends for a certain share position which he held in his custody account and had (…)
Loss due to failure of the custodian bank to pass on essential information
The bank informed the client of an offer to exchange a bond, which the client kept in his securities account with the bank. The client wanted to accept the offer, but found (…)
Tax loss after conversion of an asset management mandate
The very elderly client with a foreign residence had for many years had an asset management mandate with a smaller bank that focused on business with wealthy private clients. (…)
Tax loss due to a structured product allegedly acquired without the client’s order
The client claimed that he was an investor who was willing to take only modest risks. He wanted to invest an account balance of several million US dollars in fiduciary (…)
Losses from an investment in a structured product
After a consultation with her client advisor, the client invested in a structured product based on forex transactions. She claimed that she did not understand the (…)
Losses within the scope of an asset management mandate
The client, who was represented by a lawyer, had an asset management mandate with the Swiss subsidiary of a major international bank for many years. The bank gave up part of (…)
Losses within the scope of an asset management mandate
The clients concluded an asset management mandate with the bank in January 2018. After suffering book losses of around 7% of the assets invested in the mandate, they (…)
Poor performance of an investment fund
One client in advanced age invested in an investment fund after receiving advice from the bank. He complained to the ombudsman that the value of his fund units had (…)