“Swiss financial markets regulator FINMA has ordered a review of how Credit Suisse managed the events that led to its collapse in 2023, when the bank was bought by its longtime rival UBS.”, — write: www.epravda.com.ua
Swiss financial markets regulator FINMA has ordered a review of how Credit Suisse managed the events that led to its collapse in 2023, when the bank was bought by its longtime rival UBS.
This was reported by the Swiss newspaper SonntagsZeitung on Sunday, transmits Reuters.
According to the newspaper, FINMA is looking into the 15 months leading up to the state merger last March, for which it said around a dozen current or former employees of both banks were interviewed. To conduct an audit of the anti-crisis management at Credit Suisse, FINMA entrusted the law firm Wenger Plattner, which conducted the interviews.
A Swiss parliamentary committee that investigated the authorities’ handling of Credit Suisse’s bankruptcy is expected to present its report later this year. In April, Swiss authorities rolled out a package of measures, including tougher capital requirements for UBS, aimed at preventing a repeat of Credit Suisse’s collapse. Parliament is expected to discuss these proposals after the publication of the parliamentary report.