ZURICH, March 26 — Swiss financial regulator Finma said it was considering whether to take disciplinary action against Credit Suisse managers after Switzerland’s second...
ZURICH, March 26 — Swiss financial regulator Finma said it was considering whether to take disciplinary action against Credit Suisse managers after Switzerland’s second largest bank had to be rescued last week by UBS.
Credit Suisse on Sunday declined to comment on the Finma President’s comments when asked by Reuters for a response. Finma had conducted six public “enforcement proceedings” against Credit Suisse in recent years, Amstad said.Amstad also defended Switzerland’s decision to write down 16 billion Swiss francs of Credit Suisse Additional Tier 1 debt, to zero as part of the forced rescue merger.
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