The recent report on Credit Suisse by the Parliamentary Commission of Inquiry (CPI) has faced criticism from legal experts, particularly Peter V. Kunz, a professor of commercial law at the University of Bern.

Criticism of the Report

Kunz argues that the report does not fulfill its intended purpose and fails to hold key authorities accountable. He highlights the roles of regulatory bodies and government officials, such as Thomas Jordan and Karin Keller-Sutter, and questions the decision-making processes that led to the bank's collapse.

Kunz is particularly critical of the Swiss Financial Market Supervisory Authority (FINMA), stating that its failure to intervene effectively allowed negligence to flourish within Credit Suisse's management. He expresses skepticism about the political will to enact meaningful changes in regulatory practices and believes that the ICC report's recommendations are insufficient.

Commendation for the Swiss National Bank

However, Kunz commends the Swiss National Bank for its handling of the crisis.

Concerns about Regulatory Oversight

The report's shortcomings in addressing regulatory oversight raise concerns about the future of financial governance in Switzerland.

Debate on Accountability and Regulatory Effectiveness

Overall, the report has sparked a debate about accountability and regulatory effectiveness in the Swiss financial system.