The Swiss regulator is studying how Credit Suisse management can be held accountable

Summary by Le Devoir

The rescue of the bank by its rival UBS under pressure from the government sent shockwaves across the country.

Published 2 months ago

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NDTV

Swiss Regulator Vows To Hold Credit Suisse Bosses To Account: Report

Swiss financial regulator Finma is probing how to hold bosses at Credit Suisse to account following its emergency takeover by rival UBS, a media report said on Sunday. "We are not a penal authority but we are exploring the corresponding possibilities," said Finma chair Marlene Amstad was quoted as saying in an interview with NZZ am Sonntag weekly. Switzerland, whose vibrant banking scene is a key part of the country's culture, has been shocked t…

2 months ago·New Delhi, India

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Observador

Swiss banking regulator admits holding Credit Suisse managers accountable

The Swiss financial sector regulator, Finma, admitted that it is considering the possibility of holding Credit Suisse directors accountable for management errors.

2 months ago·Portugal

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Jornal Expresso

Swiss banking regulator admits holding Credit Suisse managers accountable

The Swiss financial sector regulator, Finma, is studying ways to hold Credit Suisse managers accountable at the judicial level for management errors at the bank

2 months ago·Portugal

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BFM TV

Credit Suisse: Swiss regulator studies how management can be held accountable

According to Marlene Amstard, President of FINMA, Credit Suisse failed in particular because of poor decisions taken by management, who “clung to a strategy involving high risks” for a long time without being “able to manage these risks adequately”.

2 months ago·France

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TSF Rádio Notícias

Swiss banking regulator admits holding Credit Suisse managers accountable

The acquisition of Credit Suisse by UBS came after the turmoil experienced by banks in the United States.

2 months ago·Porto, Portugal

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Noticias ao Minuto

Swiss regulator admits holding Credit Suisse managers accountable

"Não somos uma autoridade judicial, mas estamos a explorar possibilidades de responsabilização", disse Marlene Amstad, presidente da Finma, numa entrevista publicada hoje no jornal dominical suíço NZZ am Sonntag, em que foi muito crítica da atividade da administração daquele banco. Agora, para Amstad, os requisitos de capital e de liquidez do UBS -- a entidade financeira que adquiriu o Credit Suisse -- devem aumentar gradualmente, para responde…

2 months ago

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