Swiss regulator pledges 'very strong' focus on UBS - reports

Has a UBS team of 60

clock • 1 min read

The Swiss Financial Market Supervisory Authority (FINMA) will focus “very strongly” on UBS in light of the bank’s acquisition of Credit Suisse last year, said FINMA’s chair Marlene Amstad.

Speaking to the German newspaper Frankfurter Allgemeine Zeitung, Amstad said: "It goes without saying that we are now focusing very strongly on UBS.  "Internally, we have reorganised ourselves and increased the UBS team to around 60 people. Where the risks are high, we are looking more frequently and in greater depth." Swiss regulator appoints ECB veteran as CEO The regulator faced criticism for failing to prevent the crash of Credit Suisse last year, after concerns had been raised over UBS's dominant position in Switzerland.  Amstad defended FINMA's conduct during the bank's co...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Regulation

Deep Dive: 'Confusing' post-Brexit regulation still needs 'ironing out'

Deep Dive: 'Confusing' post-Brexit regulation still needs 'ironing out'

Impact not fully understood

Cristian Angeloni
clock 16 February 2024 • 4 min read
FCA quizzes 20 advice firms on Consumer Duty compliance

FCA quizzes 20 advice firms on Consumer Duty compliance

Focus on ongoing services

Sahar Nazir
clock 15 February 2024 • 1 min read
FCA: More than 10,000 'misleading' financial ads withdrawn in 2023

FCA: More than 10,000 'misleading' financial ads withdrawn in 2023

The watchdog records 17% surge in interventions to protect consumers

Sahar Nazir
clock 14 February 2024 • 1 min read
Trustpilot