Finma has placed “Kingdom of Germany” on warning list
Published: Saturday, Jul 6th 2024, 13:40
Zurück zu Live Feed
The Swiss Financial Market Supervisory Authority has launched an investigation into the "Kingdom of Germany". The group of so-called "Reichsbürger" was placed on Finma's warning list, as reported by Radio SRF on Saturday.
The warning list can be viewed on the website of the Swiss Financial Market Supervisory Authority (FINMA). Finma has initiated investigations into the companies and individuals on this list for unauthorized activities, as it writes on its website. German authorities have been taking action against the group and its leader, the self-proclaimed "King of Germany" Peter Fitzek, for several years.
According to the Federal Financial Supervisory Authority (Bafin), there is a suspicion that the association is conducting banking and insurance business without the necessary license.
Representatives of the "Kingdom of Germany", or KRD for short, also offered unauthorized banking and insurance services at events in Switzerland, SRF reported. In recent months, the KRD has also tried more intensively to gain a foothold in Switzerland.
"Kingdom of Germany" is a grouping of Reich citizens. These are people who do not recognize the Federal Republic of Germany and its democratic structures. They claim that the German Reich (1871-1945) continues to exist.
©Keystone/SDA
German 
English 
French 
Spanish 
Arabic