Since 2012 Bank Frey & Co. AG was subject of investigation of the United States Department of Justice on suspicion of tax evasion. On 17 October 2013, the bank announced that it would cease its activities. It's said in the statement that the bank's shareholders had opted for the bank to cease operations because tighter rules on banks accepting clients from the United States and other countries had made regulatory costs unsustainable.
Bank Frey & Co. AG participates in deposit guarantee scheme of Switzerland. This scheme covers accounts up to 100,000 CHF per bank per depositor.
Bank Frey & Co. AG was headquartered in Zürich.