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JPMorgan Chase's Swiss unit "seriously breached anti-money laundering regulations" in its suspicious dealings with Malaysian sovereign wealth fund 1MDB, the Swiss financial markets watchdog found Thursday.Despite its findings, FINMA said it would not seek legal proceedings against any individuals and there would be no fines against JPMorgan.While JPMorgan Chase's Swiss unit has barely escaped fines, FINMA said Thursday it will now conduct an in-depth review of the bank's anti-money laundering systems.
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