On September 24, 2014 Bank Gutenberg AG signed a settlement agreement with British Columbia Securities Commission, admitting that the bank traded securities on behalf of British Columbia residents, contrary to the legal requirement to be registered. The bank agreed to pay $850,000 to the Commission, $50,000 of which represents the cost of the investigation. Bank Gutenberg then ceased its operations.
Bank Gutenberg AG was the 231st largest bank in Switzerland in terms of total assets. In 2013 its total assets were 200,62 mln CHF, providing the bank with the market share of 0.01%.
Bank Gutenberg AG participates in the deposit guarantee scheme of Switzerland. This deposit guarantee scheme applies to credit balances made by private individuals (Swiss and foreign), legal entities (Swiss and foreign) and covers up to up to 100,000 CHF per bank per depositor. Bank Gutenberg AG is a member of esisuisse – Deposit Insurance and makes its contributions into it.
Bank Gutenberg AG was headquartered in Zürich.
Bank Gutenberg AG was authorized and supervised by the Swiss Financial Market Supervisory Authority.