The Swiss financial regulator, Finma, has faced criticism from the Swiss parliament for its role in the collapse of Credit Suisse.
A report by the PUK commission highlighted missteps by Finma, particularly its decision in 2017 to grant the bank relief from capital requirements. This decision allowed Credit Suisse to present a misleadingly strong capital position, contributing to its downfall.
The report also criticized the government for its slow response in implementing reforms and called for regulatory changes, including empowering Finma to impose fines on systemically important banks and individuals.
The report's findings will likely shape the future of Swiss banking as regulators and lawmakers work to address the shortcomings that led to the Credit Suisse collapse.