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credit suisse downfall linked to management bonuses and supervisory failures
Credit Suisse reported losses of CHF 33.7 billion over twelve years while paying out CHF 39.8 billion in performance bonuses, leading to scrutiny of supervisory authorities. The parliamentary committee found that the Financial Market Authority's oversight was ineffective, particularly in relaxing capital requirements. Following a crisis, Credit Suisse was sold to UBS in March 2023, averting fears of a global financial crisis.
finanzen.at
Euro Swiss Franc United States Dollar Credit Suisse Real Estate Fund Siat The Saudi National Bank Swiss National Bank USA CHE SAU Isabelle Chassot Show more
Finance & Economy, Market Report
11:59 20.12.2024
solana's resurgence and potential in the evolving cryptocurrency landscape
Solana, a cryptocurrency launched in 2020, has experienced significant price volatility, peaking at $259 in 2021 before dropping below $10 in late 2022. Despite its rocky history, including a connection to the FTX collapse, Solana has regained investor trust, showcasing robust developer interest and increasing transaction volumes, positioning itself as a key player in the Web3 ecosystem. With a market cap of $99 billion, it ranks as the sixth most valuable cryptocurrency, indicating strong potential for future growth amid evolving market conditions.
The Motley Fool
Starbucks Corp Altria Group, Inc. USA
Finance & Economy, Market Report
11:53 20.12.2024
credit suisse collapse attributed to internal failures and ineffective oversight
The Swiss parliamentary committee has concluded that Credit Suisse is solely responsible for its dramatic collapse in spring 2023, citing 33.7 billion Swiss francs in losses over twelve years while paying out 39.8 billion in bonuses. Although the Financial Market Authority's supervision was deemed ineffective, no misconduct by authorities was found. The bank was sold to UBS in an emergency sale amid fears of a global financial crisis, following significant losses and failed attempts to stabilize its finances.
DIE WELT
Swiss Franc Credit Suisse Real Estate Fund Siat The Saudi National Bank Swiss National Bank USA CHE SAU Isabelle Chassot Show more
Finance & Economy, News Article
11:51 20.12.2024
credit suisse collapse attributed to internal failures and regulatory shortcomings
The Swiss parliamentary committee has concluded that Credit Suisse is primarily responsible for its dramatic collapse in spring 2023, citing a staggering 33.7 billion francs in losses while paying out 39.8 billion francs in performance bonuses over twelve years. While the Financial Market Authority's supervision was deemed ineffective, the committee found no direct misconduct by the authorities. The emergency sale of Credit Suisse to UBS, prompted by fears of a global financial crisis, ultimately averted wider financial turmoil.
Pnp.de
Swiss Franc Credit Suisse Real Estate Fund Siat The Saudi National Bank Swiss National Bank USA CHE SAU Isabelle Chassot Show more
Finance & Economy, News Article
11:49 20.12.2024
credit suisse collapse attributed to bank failures not supervisory shortcomings
A Swiss parliamentary committee has concluded that Credit Suisse is solely responsible for its dramatic collapse in spring 2023, citing significant financial mismanagement, including losses of 33.7 billion francs while paying out 39.8 billion francs in bonuses. The committee criticized the Financial Market Authority (FINMA) for ineffective supervision and insufficient assertiveness, highlighting the need for better regulations for systemically important banks. Following the bank's difficulties, Credit Suisse was sold to UBS in an emergency sale amid fears of a global financial crisis.
t-online
Swiss Franc Credit Suisse Real Estate Fund Siat USA CHE Isabelle Chassot
Finance & Economy, News Article
11:47 20.12.2024
credit suisse collapse attributed to internal failures and supervisory shortcomings
A parliamentary investigation has concluded that Credit Suisse is responsible for its dramatic collapse in spring 2023, citing 33.7 billion Swiss francs in losses over twelve years while paying out 39.8 billion in bonuses. The report criticized the Financial Market Authority for ineffective supervision and insufficient capital requirements. Following its struggles, Credit Suisse was sold to UBS in an emergency sale amid fears of a global financial crisis.
@tagesspiegel
Euro United States Dollar Swiss Franc Credit Suisse Real Estate Fund Siat The Saudi National Bank Swiss National Bank USA CHE SAU Isabelle Chassot Show more
Finance & Economy, News Article
11:47 20.12.2024
credit suisse collapse attributed to internal failures and regulatory shortcomings
The Swiss parliamentary committee has concluded that Credit Suisse is solely responsible for its dramatic collapse in spring 2023, citing significant financial mismanagement, including losses of 33.7 billion Swiss francs while paying out 39.8 billion in bonuses. While the Financial Market Authority (FINMA) was criticized for ineffective supervision and lax capital requirements, the committee found no misconduct on the part of the authorities. The bank was sold to UBS in an emergency sale amid fears of a global financial crisis, following substantial losses and failed recovery efforts despite external support.
Badische Zeitung
Swiss Franc Credit Suisse Real Estate Fund Siat The Saudi National Bank Swiss National Bank USA CHE SAU Isabelle Chassot Show more
Finance & Economy, News Article
11:46 20.12.2024
us sec approves bitcoin and ethereum crypto etfs for public trading
The US SEC has approved the Hashdex Nasdaq Crypto Index US ETF and the Franklin Templeton Crypto Index ETF, allowing them to trade on Nasdaq and Cboe BZX Exchange, respectively. These ETFs will track Bitcoin and Ethereum, with holdings based on market capitalizations, and are expected to launch in January. This approval signals a progressive regulatory approach to cryptocurrency, potentially stabilizing the market amid recent volatility.
Crypto News Flash
Franklin Templeton - Franklin M Nasdaq 100 Dec 24 USA Nate Geraci Eric Balchunas
Finance & Economy, Market Report
11:44 20.12.2024
digital chamber calls for sec reform as trump administration approaches
As Donald Trump prepares to take office in 2025, the Digital Chamber is advocating for a significant overhaul of the SEC's approach to cryptocurrency regulation. The group emphasizes the need for transparency and collaboration, criticizing past policies and urging a shift towards a more cooperative regulatory framework.The Chamber also calls for legislative action on stablecoins and opposes the reappointment of SEC Commissioner Caroline Crenshaw, citing her detrimental impact on crypto innovation. With a potential policy shift on the horizon, stakeholders are hopeful for a balanced approach that fosters innovation while protecting investors.
Brave New Coin
Ripples USD Coinbase Global, Inc. USA Donald Trump Caroline Crenshaw Mark Uyeda Paul Atkins Hester Peirce Brian Armstrong Show more
Regulatory & Legal, News Article
11:30 20.12.2024
Netflix stock surges as UBS raises price target to 1040 dollars
Netflix's stock has surged to $906.81, buoyed by strong third-quarter results showing a 14.46% revenue increase to $9.78 billion and earnings per share of $5.52, surpassing expectations. UBS has raised its price target from $825 to $1,040, maintaining a "Buy" rating, as the company's market cap reaches $372.1 billion, reflecting a remarkable 93.30% year-over-year gain.
aktiencheck.de
United States Dollar Netflix, Inc. USA
Finance & Economy, Market Report
11:21 20.12.2024
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