The release of a parliamentary report on the collapse of Credit Suisse has prompted a reevaluation of regulatory frameworks in Switzerland.

Recommendations for Addressing Systemic Issues

The report includes 30 recommendations aimed at addressing systemic issues and preventing future crises. Some of the key recommendations are:

• Limitations on bonus payments
• Enhanced shareholder involvement
• Residency requirement for board members

Importance of Accountability and Management Oversight

The report emphasizes the importance of accountability and management oversight in the financial sector. It highlights the need for:

• Stricter measures and enhanced powers for the Swiss financial regulator, FINMA
• A more proactive role for the Swiss National Bank
• Establishment of a public liquidity backstop
• Improved information sharing and transparency during financial crises

Impact of UBS's Acquisition of Credit Suisse

The acquisition of Credit Suisse by UBS is highlighted as a pivotal moment in the report. It emphasizes the need for the government to consider UBS's size relative to the Swiss economy when formulating regulations.

The findings of the report are expected to influence the ongoing debate on financial regulatory reform in Switzerland.