Switzerland’s German Finance Sheriff Squares Off Against UBS (2)

In the year since Stefan Walter has been in charge of Switzerland’s financial regulator, he’s made a name for himself among the bankers he oversees.

They call him “The Sheriff.”

Walter, 60, a German citizen with decades of experience in top-level regulation including in the US, is using a tumultuous period in Swiss finance to establish a forthright, public presence for Finma that few in Zurich or Geneva are accustomed to.

Under his watch, Finma has communicated penalties or investigations against seven banks and fintech firms, including Julius Baer Group Ltd, using the limited powers that the body has to the full.

Most conspicuously, ...