UBS shares rattled by report of US probe into Russia sanctions evasion
- The US Department of Justice has increased its investigation into Credit Suisse Group and UBS over suspicions of compliance failures that allowed Russian clients to evade sanctions. This has raised concerns for investors about the banks' exposure to Credit Suisse's legal issues and compliance failures.
- UBS shares fell sharply by nearly eight percent and recovered to trade 3.4 percent lower after news of the DOJ's intensified probe into the bank made headlines. This indicates that investors are reacting negatively to the potential consequences of the investigation.
- The DOJ has already briefed UBS lawyers about Credit Suisse's alleged involvement in sanctions violations. This demonstrates that the investigation is not only focused on Credit Suisse but also extends to UBS.
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Ukraine update: Kyiv targets Kremlin’s ‘military-industrial complex’; US steps up Russia sanctions evasion probe into Credit Suisse, UBS
Ukrainian President Volodymyr Zelensky said pressure on the Kremlin’s ‘military-industrial complex’ needed to be ramped up and indicated his forces would continue to attack Russian targets. The post Kyiv targets Kremlin’s ‘military-industrial complex’; US steps up sanctions evasion probe into Credit Suisse, UBS appeared first on Daily Maverick.
UBS shares rattled by report of US probe into Russia sanctions evasion
By Hanna Ziady, CNN London (CNN) — Shares of UBS plunged Wednesday following a Bloomberg report that the Swiss bank faces a widening probe by the US Department of Justice (DOJ) over suspected compliance failures that allowed Russian clients to evade sanctions. The Swiss Stock Exchange said it had temporarily stopped trade in the stock, which had fallen as much as 8% before it was suspended. Trading resumed later and shares stood about 3.5% lower…
US: DOJ opens probe into UBS, Credit Suisse over alleged Russian sanctions evasion
The US Department of Justice (DOJ) has turned up the heat on Credit Suisse Group and UBS over suspicions that the compliance failures allowed Russian clients to evade sanctions, according to a Bloomberg report. Citing sources familiar with the matter, the report stated that the DOJ had briefed US-based lawyers for UBS about Credit Suisse’s alleged exposure to sanctions violations since UBS acquired its smaller rival in June.
UBS shares rattled by report of US probe into Russia sanctions evasion
By Hanna Ziady, CNN London (CNN) — Shares of UBS plunged Wednesday following a Bloomberg report that the Swiss bank faces a widening probe by the US Department of Justice (DOJ) over suspected compliance failures that allowed Russian clients to evade sanctions. The Swiss Stock Exchange said it had temporarily stopped trade in the stock, which had fallen as much as 8% before they were suspended. Trading resumed later and shares stood about 3.5% lo…
UBS shares rattled by report of US probe into Russia sanctions evasion
UBS shares plunged Wednesday following a report that the Swiss bank faces a widening probe by the US Department of Justice over suspected compliance failures that allowed Russian clients to evade sanctions. compliance failures that allowed Russian clients to evade sanctions.
DOJ Steps Up Probe Of Credit Suisse And UBS Over Sanctions Breaches
The US Department of Justice has stepped up its probe into Credit Suisse Group and UBS Group AG over suspected compliance failures that allowed Russian clients to evade sanctions, according to people familiar with the situation.
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