Press release

FINMA announces opening of insolvency proceedings against ACH Securities SA of Geneva

In view of a shortage of liquidity, FINMA took steps on 16 January 2009 to protect the clients of ACH Securities SA, a stock exchange and securities dealer which has been operating in Switzerland since 2002, and clarify its financial position. As there was still no realistic prospect of recovery and the insolvency was established, at 8 a.m. on 17 February 2009 FINMA announced the opening of insolvency proceedings against ACH Securities SA and appointed two liquidators.

The deadline for registering claims expires on 31 March 2009. Clients holding an account at ACH Securities SA will be deemed to have a claim where the amount has been acknowledged regularly in writing to the client in a statement or other document, and do not need to contact the liquidators. The same situation is applicable to the segregation of the securities deposited by ACH Securities SA.

For further information please go to Enforcement / Insolvencies and ACH Securities SA.