US EditionCredit Suisse inquiry blasts oversight failings, blames bosses
18 Articles
18 Articles
The PUK report is out, and this is how Finma, the Swiss National Bank, UBS, the Bankers Association, political parties – and Ueli Maurer – react.
The Swiss financial market supervisor was ineffective in his management of the Credit Suisse scandal , an entity that last year collapsed and had to be rescued by its direct rival, UBS, after the mismanagement of its management team. This is the main conclusion of the eighteen-month investigation carried out by the parliament of Switzerland. Despite this, the commission of inquiry claims that it did not find evidence that the implosion of Credit…
Credit Suisse Under Siege: PUK Report Reveals Turbulent Period Leading to Emergency Takeover
The Credit Suisse crisis in March 2023 exposed significant flaws in crisis management, as detailed by the parliamentary inquiry committee’s 569-page report. It criticized former Finance Minister Ueli Maurer’s leadership and highlighted the urgent misjudgments by CS executives. The report also noted that although authorities prevented a global financial disaster, the chaotic merger with UBS […]
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The PUK has presented its investigation report into the CS downfall. Isabelle Chassot answered questions from journalists after the press conference.
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Bias Distribution
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