UBS to Pay Nearly $400 Million Fine to Settle Credit Suisse’s Archegos Failures
Headline from Wall Street Journal
Fed says Credit Suisse engaged in ‘unsafe and unsound counterparty credit risk management practices’ related to dealings with the investment firm.
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The settlement is the first of several that UBS could have to pay after it last month closed its takeover of Credit Suisse, which was involved in a number of legal battles.
The U.S. Federal Reserve has hit Swiss bank UBS with a $268.5 million fine over "misconduct" by its rival, Credit Suisse, before the two merged in March.
NEW YORK (AP) — Swiss banking giant UBS will pay nearly $400 million in fines to U.S., Swiss and U.K. banking authorities for the management failures of Credit Suisse, which UBS bought in June, related to how Credit Suisse handled its relationship with collapsed hedge fund Archegos Capital Managemen…
The Swiss banking giant UBS has been fined close to $400 million for misconduct by its recently-acquired subsidiary, Credit Suisse, the US Federal Reserve
UBS to Pay Nearly $400 Million Fine to Settle Credit Suisse’s Archegos Failures | Since Then
