(Bloomberg) -- Preliminary conclusions of the Swiss parliamentary commission reviewing the 2023 collapse of Credit Suisse sharply criticize the financial...
-- Preliminary conclusions of the Swiss parliamentary commission reviewing the 2023 collapse of Credit Suisse sharply criticize the financial regulator Finma as well as the country’s central bank and the Federal Council, according to a report in SonntagsZeitung.Haven Rush, ‘Trump Trades’ on Investor Minds After Shooting
The critique of Finma, the Swiss banking watchdog, centers on a lack of assertiveness, according to SZ. The report adds that Finma should have greater powers, something that Switzerland’s government has considered; so far it’s stopped short of giving the regulator the power to fine banks. Ueli Maurer, the Swiss finance minister between 2016 and 2022, will also be faulted for authorities’ insufficient preparation when Credit Suisse started to unravel, according to SZ.
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