The Swiss Bank Employees Association is demanding accountability from FINMA and the Federal Council ahead of the PUK's report on Credit Suisse's collapse. They criticize the supervisory authorities for allowing risky practices and call for the resignation of FINMA Chairwoman Marlene Amstad, emphasizing the need for personal liability among top bank executives. Additionally, they urge UBS to uphold responsible HR policies and collaborate on tightening regulations to protect the banking sector.
The Swiss Bank Employees Association is demanding the resignation of FINMA President Marlene Amstad following the PUK report on Credit Suisse's collapse. They criticize the Federal Council for inaction and question why supervisory authorities allowed the bank to operate with insufficient equity capital, risking thousands of jobs. A report from the Parliamentary Commission of Inquiry is set to be released soon.
The Swiss Bank Employees Association is demanding the resignation of FINMA President Marlene Amstad following the PUK report on Credit Suisse's downfall. They criticize the Federal Council for its inaction and question why supervisory authorities allowed the bank to operate with insufficient equity capital, putting thousands of jobs at risk. A report from the Parliamentary Commission of Inquiry is set to be released soon.
The Swiss Bank Employees Association is demanding the resignation of FINMA President Marlene Amstad following the PUK report on Credit Suisse's collapse. They criticize the supervisory authorities for allowing the bank to operate with insufficient equity and call for clearer responsibilities and personal liability for top management. The association emphasizes the need for stronger regulatory instruments and accountability to prevent a repeat of such failures.
The Swiss Bank Employees Association is demanding the resignation of FINMA President Marlene Amstad following the upcoming report from the Parliamentary Commission of Inquiry on Credit Suisse's downfall. The association criticizes the Federal Council for its inaction and questions why supervisory authorities allowed the bank to operate with insufficient equity capital, putting thousands of jobs at risk.
The upcoming CS-PUK report will critically assess the actions of institutions and individuals involved in the downfall of Credit Suisse, influencing future Swiss banking regulations. The Parliamentary Commission of Inquiry has scrutinized the management of FINMA and the Swiss National Bank, with potential implications for former Finance Minister Ueli Maurer. Recommendations for strengthening regulatory frameworks, particularly for "too big to fail" banks, are anticipated as the Federal Council prepares to amend TBTF rules by mid-2025.
The Parliamentary Commission of Inquiry is set to release a report examining the actions of Swiss authorities leading to Credit Suisse's collapse and its emergency merger with UBS. The investigation, covering 2015 to 2023, will focus on regulatory failures rather than the bank's management mistakes, with potential consequences for current officials, particularly at FINMA. As pressure mounts for regulatory reforms, the report aims to prevent similar crises in the future.
The Parliamentary Commission of Inquiry (PUK) is investigating the Credit Suisse crisis, focusing on the roles of the Financial Market Supervisory Authority (FINMA), the Swiss National Bank (SNB), and the Federal Council's Department of Finance. Key figures, including FINMA President Marlene Amstad and former Finance Minister Ueli Maurer, are under scrutiny for their responses to the bank's liquidity issues and the effectiveness of their cooperation. The PUK's findings may lead to significant reforms in FINMA's powers and oversight mechanisms.
The Swiss Parliamentary Investigation Commission (PUK) is set to release its report on Credit Suisse's collapse, likely by year-end 2024, with a focus on the Financial Market Supervisory Authority (FINMA) and its inadequate crisis management. The report will address systemic issues, including the effectiveness of the "Too Big to Fail" framework, and is expected to influence future regulatory reforms in the Swiss financial system. Accountability for key figures, including FINMA's president and former finance minister, is also under scrutiny.
The upcoming CS-PUK report is set to illuminate the actions of institutions and individuals involved in the Credit Suisse crisis, influencing future Swiss banking regulations. The Parliamentary Commission of Inquiry has scrutinized the roles of key figures, including former Finance Minister Ueli Maurer and the Swiss National Bank, amid criticisms of inadequate crisis management and oversight. Recommendations from the report may impact the ongoing debate on capital requirements for "too big to fail" banks, with potential amendments to regulations expected by mid-2025.
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