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ZURICH, June 23 (Reuters) - BSI is appealing to a Swiss court a decision by Switzerland's financial watchdog FINMA over its business relationships and transactions linked to 1Malaysia Development Bhd (1MDB), the Swiss bank said on Thursday.
"In its appeal, BSI in particular challenges FINMA's assessment of the facts, and holds that the measures ordered are unlawful and disproportionate under the applicable principles of administrative law," Lugano-based BSI said in a statement.
In May, FINMA found BSI in breach of money laundering regulations and ordered the disgorgement of profits amounting to 95 million Swiss francs ($99.4 million) as well as the dissolution of BSI once it has been integrated into EFG International.
$1 = 0.9559 Swiss francs Reporting by Joshua Franklin; Editining by Michael Shields