Swiss prosecutor probes UBS takeover of Credit Suisse

Elliot Gulliver-Needham
clock • 2 min read

Switzerland's federal prosecutor has launched an investigation into whether the takeover of Credit Suisse by UBS last month involved any "criminal offences". The office of the attorney general said over the weekend it was looking into any potential breaches by government officials, regulators or bank executives after the emergency deal was reached to prevent a potential market meltdown. After a delayed annual report revealed "material weaknesses" for the bank and investors became nervous after the collapse of Silicon Valley Bank, Credit Suisse's share price began plummeting. The de...

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Elliot Gulliver-Needham
Author spotlight

Elliot Gulliver-Needham

Senior Reporter at Investment Week