UBS is currently facing legal challenges related to the legacy of Credit Suisse.

Money Laundering Allegations and Compensation

Credit Suisse was found liable for money laundering activities and was ordered to pay compensation and fines.

UBS, which acquired Credit Suisse, is now responsible for representing itself in the ongoing appeal process.

Challenges in Establishing Culpability

One complication in the case is that all employees accused in the matter are deceased, making it difficult to establish culpability.

UBS plans to mount a strong defense, arguing that it cannot be held liable for money laundering when no individuals have been convicted.

Broader Implications for Financial Institutions

The outcome of the trial could have broader implications for the accountability of financial institutions in cases of alleged misconduct.