UBS has intensified lobbying efforts to prevent new regulations following the Credit Suisse crisis, with significant donations to conservative parties raising concerns. The SP calls for a ban on party funding from UBS, arguing that it undermines regulatory independence and accountability. The PUK report highlights how bank lobbying contributed to regulatory fatigue, impacting the effectiveness of FINMA.
The Greens and Socialist Party have raised concerns over the risks posed by UBS following the Credit Suisse debacle, urging faster implementation of "too big to fail" legislation. They criticized UBS's management for excessive bonuses amid significant losses and called for stricter regulations. Meanwhile, the Federal Council and financial authorities are urged to enhance supervision to prevent future banking crises.
The Parliamentary Commission of Inquiry's report on Credit Suisse's collapse highlights years of mismanagement and calls for stronger regulations for systemically important banks. Reactions from political and business leaders emphasize the need for effective oversight, with some advocating for a "Lex UBS" to manage the risks posed by the newly formed mega-bank. The Federal Council acknowledges the report's findings and plans to incorporate them into future regulatory frameworks.
The PUK's report on the Credit Suisse crisis has sparked varied reactions from political parties, highlighting mismanagement by bank leaders and calling for stricter regulations. The FDP praises its Federal Councillor for crisis management, while the SP demands a ban on bonuses for UBS managers and compensation for taxpayers. The Greens and Center Party echo calls for enhanced oversight and accountability in the banking sector.
The Parliamentary Commission of Inquiry's report on the emergency merger of Credit Suisse and UBS found no misconduct by authorities but criticized Credit Suisse's management and regulatory weaknesses. Political reactions include calls for stricter banking regulations, with the Greens proposing a "Lex UBS" to enhance corporate governance and oversight. Former Finance Minister Ueli Maurer is blamed for inadequate crisis management, while the report emphasizes the need for improved coordination among authorities and better crisis detection mechanisms.
The fallout from the Credit Suisse collapse has sparked intense political blame, particularly directed at former Finance Minister Ueli Maurer for his inaction during critical years. Calls for stricter regulations and oversight have emerged, with various parties advocating for measures such as banning bonuses for systemically important banks and increasing capital requirements. The Federal Council, while defending its actions, acknowledges the need for regulatory improvements in light of the crisis.
Ueli Maurer, the former Finance Minister, remains silent on the Parliamentary Investigation Commission's report regarding Credit Suisse's downfall, stating he needs time to review it. The report criticizes his lack of communication with the Federal Council and insufficient handover to his successor. UBS acknowledges the report, attributing CS's collapse to poor management and supports most proposals to enhance financial stability, while the Green Liberal Party emphasizes that bad management cannot be regulated away.
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