Since I already have a Swiss thread open just puts this here
Nothing like an honest banker paying a fine for revealing dirty laundry
Rudolf Elmer, former Swiss banker, fined $20,000 for giving Wikileaks tax data
A former private banker found has been found guilty in Switzerland of breaking the country's strict secrecy laws by passing confidential client data to WikiLeaks in 2007.
Rudolf Elmer claims he was trying to expose rich tax evaders banking with his former employer, Julius Baer, which fired him in 2002.
Elmer's lawyer, Ganden Tethong, says Zurich's district court also found her client guilty of forging a document purporting to be a letter from the bank to German Chancellor Angela Merkel.
The court handed Elmer a 16,800 Swiss francs (a little over $20,000 Canadian) fine Monday, and suspended him for three years. Prosecutors had demanded a 3 1/2-year prison sentence.
Tethong says she was appealing the verdict along with an earlier sentence in a related case.
Elmer's documents contributed to pressure on Switzerland to relax banking secrecy.
http://www.cbc.ca/news/business/rudolf-elmer-former-swiss-banker-fined-20-000-for-giving-wikileaks-tax-data-1.2917850___
And some bank hits
The $400 million of cumulative losses that Citigroup Inc. (C), Deutsche Bank AG and Barclays Plc (BARC) are said to have suffered from the Swiss central bank’s decision to end the cap on the franc may be followed by others in coming days.
“The losses will be in the billions -- they are still being tallied,” said Mark T. Williams, an executive-in-residence at Boston University specializing in risk management. “They will range from large banks, brokers, hedge funds, mutual funds to currency speculators. There will be ripple effects throughout the financial system.”
Citigroup, the world’s biggest currencies dealer, lost more than $150 million at its trading desks, a person with knowledge of the matter said last week. Deutsche Bank lost $150 million and Barclays less than $100 million, people familiar with the events said, after the Swiss National Bank scrapped a three-year-old policy of capping its currency against the euro and the franc soared as much as 41 percent that day versus the euro. Spokesmen for the three banks declined to comment.
Marko Dimitrijevic, the hedge fund manager who survived at least five emerging-market debt crises, is closing his largest hedge fund, which had about $830 million in assets at the end of the year, after losing virtually all its money on the SNB’s decision, a person familiar with the firm said last week.
http://www.bloomberg.com/news/2015-01-19/bank-losses-from-snb-surprise-seen-mounting.html__
Alternative source
http://www.ft.com/intl/cms/s/0/0d9a514a-9fb9-11e4-9a74-00144feab7de.html#axzz3PKcCjvZ0
