UBS has been urged by FINMA, the Swiss financial market regulator, to improve its emergency contingency plans due to concerns about the bank's readiness for potential insolvency.

FINMA has temporarily halted its annual assessment of UBS's contingency strategies while the bank reevaluates its crisis management approach.

This directive comes in response to lessons learned from the recent crisis at Credit Suisse, which underscored the importance of additional measures to strengthen crisis preparedness and resolution planning for systemically important banks.

According to FINMA, enhancing these plans is critical for maintaining stability in the financial system.