Published 2 months ago

UBS shares rattled by report of US probe into Russia sanctions evasion

The US Department of Justice (DOJ) 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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CNN

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.

2 months ago·Atlanta, United States

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The Washington Post

DOJ steps up probe of Credit Suisse and UBS over sanctions breaches

The U.S. Department of Justice has stepped up its probe into Credit Suisse and UBS over suspected compliance failures that allowed Russian clients to evade sanctions, according to people familiar with the situation.

2 months ago

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KRDO

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…

2 months ago·Colorado Springs, United States

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KIFI

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…

2 months ago·Idaho Falls, United States

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TASS [🇷🇺-affiliated]

Russian Olympic Committee staff slashed due to IOC sanctions — ROC president

"We were able to help a number of our former staff members to find jobs with some Russia-wide sports federations; they are now working in the same building, doing the amount of work necessary for the relevant Russia-wide sports federations," Stanislav Pozdnyakov said

2 months ago·Moscow, Russian Federation

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WION

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.

2 months ago·Noida, India

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