On 28 April 2023, SWI SBA updated on Credit Suisse takeover implications. SWI SBA updated on assessment of the implications of the Credit Suisse takeover. Follows SWI SBA March 2023 showed support for Credit Suisse takeover. Overview Takeover by UBS and measures taken by Swiss authorities were a drastic event for the Swiss financial center; […]

On 14 April 2023, Fed issued approval of Credit Suisse takeover in the US. Fed approved UBS Group AG to acquire the US subsidiaries of Credit Suisse Group AG. Follows March 2023 approved UBS takeover of Credit Suisse in Switzerland. Implementation UBS has committed to provide Fed with implementation plan, to be updated quarterly. Will […]

On 11 April 2023, LUX GVT issued consolidated version of law of 19 May 2006, transposing dir 2004/25 on public takeover bids, applicable from 24 July 2022.

IMF acknowledged authorities’ decisive action re the UBS takeover of Credit Suisse. Follows SWI GVT, SWI CB, FINMA March 2023 approved UBS/CS takeover. IMF noted that Credit Suisse’s failure reflected weaknesses in internal controls, risk management, repeated regulatory breaches, financial losses, and deposit outflows. Authorities’ decisive actions prevented potential spillovers to the global banking sector. […]

On 4 April 2023, SWI PRL issued update on interventions by the CER-N committee. After obtaining first-hand information on the events leading up to the takeover of Credit Suisse by UBS and the circumstances of this takeover, the National Council’s Committee on Economic Affairs and Taxation (CER-N) has acted on several proposals to submit postulates; […]

On 28 March 2023, SWI SBA showed support for Credit Suisse/UBS takeover. SWI SBA Chairman Marcel Rohner and deputy CEO August Benz commented on the current situation of the Swiss financial center during a media conference on 21 March. Follows SWI GVT, SWI CB, FINMA March 2023 approved UBS/CS takeover. Best Solution SWI SBA said […]