Swiss financial watchdog to regularly review how it oversees UBS

Reuters11-13

ZURICH (Reuters) - Swiss financial regulator FINMA said on Wednesday it will in future regularly review how it oversees UBS as the country's authorities prepare to overhaul regulations to make the ...

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That process is expected to extend well into next year. \n The government said it will in the first half of 2025 make an announcement on the supervisory instruments FINMA has as part of the follow-up to those proposals. \n UBS and Switzerland's three other systemically important banks - Raiffeisen Group, PostFinance and Zuercher Kantonalbank, must be capable of being restructured, wound up, or sold off, without jeopardising Swiss and international financial stability, FINMA said. \n Last month FINMA said UBS must improve its emergency and recovery plans following its takeover of Credit Suisse to ensure it can be wound down or sold without risking financial stability and taxpayer cash. \n FINMA has been appealing for stronger powers to oversee banks, including the authority to name and shame banks that breach its rules, as well as issue fines. \n The government said it will take into account the findings of a parliamentary report into how the Credit Suisse crisis was handled when determining banking regulations, it added. The report is expected to be published in the next few weeks. \n (Reporting by John Revill, Editing by Miranda Murray and Sharon Singleton)","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483863698"}