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Santander UK successfully dismissed a lawsuit claiming banks have a duty to recover funds lost in authorized push payment (APP) scams. The case involved CCP Graduate School, which lost £415,000 to fraudsters posing as legitimate beneficiaries. In 2023, over 232,000 APP scam cases were reported in the UK, with new compensation rules set to take effect in October 2024.
Swiss Finance Minister Karin Keller-Sutter stated that UBS's capital requirements will hinge on the bank's resolvability as new stability measures are considered. The government is evaluating "too big to fail" proposals to prevent banking collapses like that of Credit Suisse, which UBS acquired. Keller-Sutter emphasized the need for a balance between financial sector competitiveness and stability, while also suggesting that the capitalization of UBS's foreign units remains under review. She noted the potential for increased regulatory powers for FINMA, including the ability to impose fines on banks.
UBS's capital requirements under new Swiss stability measures will hinge on the bank's resolvability, according to Finance Minister Karin Keller-Sutter. As UBS awaits regulations following the "too big to fail" proposals, concerns arise over the capitalization of its foreign subsidiaries, particularly after acquiring Credit Suisse. Keller-Sutter emphasized the need for a balance between financial sector competitiveness and stability, while also suggesting potential regulatory changes regarding executive compensation and penalties for banks.
Susan Fenton
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santander uk wins appeal in push payment fraud lawsuit
08:48 26.03.2025
ubs capital requirements linked to bank resolvability under new stability measures
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22:15 31.10.2024
ubs capital requirements hinge on resolvability says swiss finance minister
United States Dollar
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CHE
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20:02 31.10.2024
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