Published on December 20, 2024 at 10:33. / Modified on December 20, 2024 at 10:54.
5 mins. reading
It was eagerly awaited. Almost two years after the disappearance of Credit Suisse and its takeover by UBS, the Parliamentary Commission of Inquiry (CEP) published its report. The latter looked at the role of the various public actors in the crisis which led to the disappearance of the country’s second largest bank.
The CEP first recalls that the primary responsibility for the Credit Suisse crisis lies with the directors of the establishment and their mismanagement. However, she points out the weaknesses of Finma. This is not a surprise because the financial market regulatory institution itself had already made a partial mea culpa when it published a report a year ago in which it noted “having reached the limits of banking supervision” with the former flagship of the Swiss financial center. And at the same time, she requested new tools to do her work better in the future. Finma has often been accused of not having done enough to prevent the Credit Suisse debacle, a fact it has always rejected.
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