By decision dated 6 February 2026, the Swiss Financial Market Supervisory Authority (FINMA) revoked the license of MBear Merchant Bank AG following enforcement proceedings concerning violations of anti-money laundering regulations and ordered the Bank’s liquidation. Prof. Dr. Daniel Staehelin (lead liquidator) and Dr. Lukas Bopp (deputy liquidator), both of Kellerhals Carrard, Basel, were appointed as liquidators.
The Bank filed an appeal against this decision with the Federal Administrative Court and requested that suspensive effect be granted. The Court granted suspensive effect. However, in light of recent developments, in particular the threat of sanctions by the U.S. Financial Crimes Enforcement Network (FinCEN), the Board of Directors resolved to withdraw the appeal. As a result, the revocation of the license and the order for liquidation have become legally binding and enforceable.
The Bank is now in liquidation and is represented solely by the appointed liquidators. Ms. Annett Viehweg continues to perform her duties as CEO under the supervision of, and in accordance with the instructions issued by, the liquidators. The Board of Directors has resigned.
According to the Bank’s books, sufficient assets are available to satisfy all clients and creditors in full. Due to the U.S. intervention and the revocation of the license, the Bank is subject to restrictions in payment transactions. For the time being, payments can therefore only be made up to a maximum of CHF 100'000 per client and only in Swiss francs.
Clients may continue to contact their usual relationship manager. Shareholders will receive distributions only after all creditors have been satisfied and the liquidation has been completed.
For further information, please contact info@mbaerbnk.com.
The Liquidators
February 2025 was an eventful month for financial markets, characterized by periods of strength and turbulence. The month began on a cautious note as markets reacted to escalating trade tensions, particularly the threat of new US tariffs on Canada, Mexico, and China. However, a temporary extension for Canada and Mexico provided relief, fueling a short-lived rally that pushed the S&P 500 to an all-time high on February 19.
Q1 2025 ended with stark divergence in regional performance, driven by geopolitics, policy surprises, and sector-specific risks. What began as a promising start to the year, supported by solid economic data and resilient consumer demand, shifted abruptly toward risk aversion.
June marked a turning point, but not because risks disappeared, but rather because investors stopped fearing them. Equity markets surged to new highs, not in spite of tariffs, fiscal strain, and geopolitical shocks, but because those threats proved manageable. The "wall of worry" is still standing, but markets are sprinting up it.
Markets in May were anything but quiet. What began with elevated anxiety fueled by escalating trade rhetoric and surging bond yields, quickly pivoted into a broad-based rally, as investors responded to a series of headline-driven shifts. At the center stood President Trump, whose abrupt softening on China tariffs and temporary delay of punitive measures against the EU triggered a powerful reversal in sentiment.