Credit Suisse Takeover Is Focus of Swiss Regulatory Probe: Paper

Switzerland’s banking regulator is investigating the final 15 months of Credit Suisse as an independent bank and its rescue by UBS Group AG, according to SonntagsZeitung.

Finma issued a 36-page order to Credit Suisse, which now only exists in name, and UBS in September 2023 setting out its investigation, the Swiss weekly paper reported. Since then, a dozen current or former officials from both banks have already been investigated, and the law firm of Wenger Plattner has been hired to lead the probe, according to the paper.

A UBS spokesperson declined to comment. Spokespeople for Finma and ...