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The Swiss Financial Market Supervisory Authority (FINMA) faces criticism for its handling of the Credit Suisse (CS) crisis, with a parliamentary inquiry revealing that CS management largely bears the blame for its risky strategies and scandals. Politicians are calling for increased regulation and capital requirements for UBS, which has taken over CS, amid concerns that the bank's high executive salaries and bonuses could lead to similar failures. The debate highlights the tension between maintaining a competitive banking environment and ensuring adequate oversight to prevent future crises.
In a recent debate, politicians discussed the need for increased regulation of major banks following the Credit Suisse crisis. SP Co-President Cédric Wermuth advocated for a salary cap of CHF 5 million for bank executives, arguing that state support justifies government intervention. However, UBS's Markus Ronner and SVP's Thomas Matter opposed the cap, emphasizing the importance of maintaining competitiveness and shareholder rights in the banking sector.
Markus Ronner, UBS's Group Chief Compliance and Governance Officer, is set to make a rare television appearance on Swiss Arena, facing left-wing critics including Cédric Wermuth and Franziska Ryser. Known for his calm demeanor and extensive knowledge of banking regulations, Ronner's participation marks a significant moment, as top bank executives have largely avoided public scrutiny since the financial crisis. His background in compliance and governance positions him well to address the challenges posed by critics.
UBS is navigating regulatory pressures following its takeover of Credit Suisse, proposing to limit its investment division and strengthen its capital base to avoid stricter regulations that could hinder growth. The bank aims to balance compliance with maintaining its competitive edge, while discussions on capital requirements continue, with potential concessions on investment banking activities. Lobbying efforts are intensifying, though some officials suggest a more moderate regulatory approach is likely.
UBS is navigating regulatory pressures following its takeover of Credit Suisse, proposing to limit its investment division and strengthen its capital base to avoid stricter regulations that could hinder growth. The bank aims to balance compliance with maintaining its competitive edge, while discussions on capital requirements continue, with a government estimate expected in May. Lobbying efforts are intensifying, though some officials suggest a more moderate regulatory approach is likely.
UBS is negotiating with regulators to limit its investment bank's size and increase capital to avoid stricter regulations following the Credit Suisse acquisition. The bank may cap its investment banking division at 30% of its overall business and is considering raising an additional $5 billion in capital, though this falls short of some political demands. UBS executives warn that excessive requirements could harm the Swiss financial sector's competitiveness and potentially lead to a relocation of its headquarters.
UBS is negotiating with regulators to limit its investment bank's size and increase capital to avoid stricter regulations following the Credit Suisse takeover. The bank may cap its investment banking division at 30% of its overall business and is considering raising an additional $5 billion in capital, though this falls short of some political demands. UBS executives warn that excessive capital requirements could harm competitiveness and potentially lead to relocating its headquarters, despite intentions to remain in Switzerland.
UBS is negotiating with Swiss regulators to avoid stricter capital requirements following its acquisition of Credit Suisse, which could hinder its growth. The bank is proposing to limit its investment division and strengthen equity capital to mitigate regulatory pressures, while also emphasizing its status as a well-capitalized institution. As discussions continue, UBS is considering various strategies, including potential symbolic relocation, to leverage its position amidst ongoing regulatory scrutiny.
UBS is working to appease regulators following its acquisition of Credit Suisse, proposing to limit its investment division and strengthen equity capital to avoid stricter rules that could hinder growth. The bank aims to maintain competitiveness amid rising capital requirements while lobbying against excessive regulation. As discussions continue, UBS is considering various strategies, including potential symbolic moves of its headquarters, to influence regulatory outcomes.
UBS is negotiating with regulators to avoid stricter rules following its takeover of Credit Suisse, proposing to limit its investment division and strengthen equity capital. The bank aims to maintain competitiveness while addressing regulatory concerns, as excessive capital requirements could threaten its market position. Lobbying efforts are intensifying, with discussions about potential symbolic moves, but some officials believe a balanced solution will emerge.
Franziska Ryser
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