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Switzerland launches investigation into UBS’s acquisition of Credit Suisse

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An investigation has been launched in Switzerland regarding the acquisition of Credit Suisse by its rival financial holding UBS.

The decision to initiate an investigation was made by the local Senate Committee on the administration of the Federal Council. It will evaluate the actions of the authorities in the context of the crisis at Credit Suisse and the subsequent takeover of the organization by UBS.

“The real question is whether the actions of the federal authorities are consistent with the principles of legality, timeliness and efficiency,” RIA Novosti quoted a message from the Swiss parliament.

Moody’s downgrades Swiss bank UBS to negative after announcing its merger with Credit Suisse. Earlier, the S&P agency announced that the company had been downgraded.

Source: Riafan

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