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UBS Chairman Colm Kelleher has sharply criticized Switzerland's banking regulator, Finma, for its failure to act on warning signs regarding Credit Suisse, which he claims has been unviable since 2015. He argues that while Finma issued letters, it did not take decisive action, allowing significant risks and misconduct to persist, ultimately leading to a costly emergency rescue. Kelleher emphasizes that the responsibility for the crisis lies primarily with Credit Suisse's management and board, while questioning why Finma did not intervene more effectively despite its expanded powers.
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ubs chairman criticizes finma for failure in credit suisse crisis
United States Dollar
Credit Suisse Anlagestiftung
Morgan Stanley
UBS SA
Escher Bank
CHE
Colm Kelleher
Lukas Hässig
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09:00 04.10.2024
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