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(Bloomberg) — Switzerland is accelerating efforts to reform its banking regulations a year after the collapse of Credit Suisse — and handing more power to those who will enforce them. The government is due to unveil long-awaited proposals for legislation in the coming days that are likely to touch on all of the main pillars…
Switzerland's financial market regulator will focus very strongly on UBS after the bank's takeover of fallen rival Credit Suisse, FINMA's Chair said in an interview published on Friday. ...
Switzerland's Financial Market Supervisory Authority (FINMA) is focusing strongly on UBS following its takeover of Credit Suisse. FINMA has reorganized and increased the UBS team to around 60 people, focusing on high-risk areas. The enlarged UBS, with a balance sheet of over $1.6 trillion, has raised concerns about its dominant position in Switzerland and potential influence on future banking regulation.
FINMA will focus “very strongly” on UBS in light of the bank’s acquisition of Credit Suisse, said FINMA’s chair.
The Swiss Financial Market Supervisory Authority has appointed European Central Bank executive Stefan Walter as its new CEO, effective from 1 April.