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The Swiss Financial Market Supervisory Authority (FINMA) has launched an investigation into the final months of Credit Suisse prior to its acquisition by UBS in 2023. The audit aims to scrutinize the bank's handling of events leading to its downfall. This investigation covers the last 15 months of Credit Suisse as an independent entity, according to a report by SonntagsZeitung. The move comes as part of FINMA's efforts to understand the circumstances that necessitated the rescue of Credit Suisse by UBS.
Switzerland’s banking regulator is investigating the final 15 months of Credit Suisse as an independent bank and its rescue by UBS, according to SonntagsZeitung https://t.co/2HDyIGuFIM via @business @hugodmiller #Switzerland
FINMA [to UBS]: “Hey.. Pssst! We need you to acquire Credit Suisse to save the economy” Also FINMA [to UBS]: “Why the Hell did you acquire Credit Suisse like that?!?” September 22, 2024 Bloomberg article: https://t.co/TUZ0iEvWk9 (EDIT: Please follow the threaded tweets back… https://t.co/yz893iKgSS https://t.co/WtMyfwPvfn
BREAKING NEWS SWISS FINANCIAL MARKET REGULATOR HAS ORDERED AN AUDIT INTO CREDIT SUISSE'S HANDLING OF EVENTS LEADING TO ITS DEMISE IN 2023 Ok.