UBS faces fines in excess of $400m over Credit Suisse Archegos failings - reports

Following acquisition

The penalty bill for UBS over Credit Suisse’s mishandling of Archegos Capital is expected to total hundreds of millions of dollars, as Swiss, US and UK regulators tie up their investigations.

The US Federal Reserve's fine could be as much as $300m, while the UK Prudential Regulation Authority could impose a penalty of up to £100m, the FT has reported. However, both fines could be negotiated down as part of ongoing settlement talks. Swiss regulator Finma is unable to fine financial institutions, but is set to release its own report on the matter. First euro-denominated AT1s since Credit Suisse issued UBS completed its takeover of rival Credit Suisse last week following a run of scandals at the acquired house, including losses of $5.5bn tied to the collapse of hedge f...