The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n
The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n
The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
By integrating a private blockchain network with automated settlement processes, UBS hopes to reduce transaction times, cut costs, and offer multinational clients a better experience. <\/p>\n","post_title":"UBS Tests Blockchain Payments For Cross-Border Transfers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ubs-tests-blockchain-payments-for-cross-border-transfers","to_ping":"","pinged":"","post_modified":"2024-11-10 22:38:16","post_modified_gmt":"2024-11-10 11:38:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19424","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The bank explained that with increased visibility of their cash positions, firms can better manage intraday liquidity and adjust their buffers, ultimately improving financial control. UBS plans to continue expanding the capabilities of UBS Digital Cash, with future developments likely including enhancements to support a broader range of currencies and an extended network of clients.<\/p>\n\n\n\n By integrating a private blockchain network with automated settlement processes, UBS hopes to reduce transaction times, cut costs, and offer multinational clients a better experience. <\/p>\n","post_title":"UBS Tests Blockchain Payments For Cross-Border Transfers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ubs-tests-blockchain-payments-for-cross-border-transfers","to_ping":"","pinged":"","post_modified":"2024-11-10 22:38:16","post_modified_gmt":"2024-11-10 11:38:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19424","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
A significant feature of the UBS Digital Cash system is its potential to transform liquidity management for corporate clients. During the pilot, UBS facilitated liquidity transfer between its branches, highlighting the platform's capability to optimize cash flow.<\/p>\n\n\n\n The bank explained that with increased visibility of their cash positions, firms can better manage intraday liquidity and adjust their buffers, ultimately improving financial control. UBS plans to continue expanding the capabilities of UBS Digital Cash, with future developments likely including enhancements to support a broader range of currencies and an extended network of clients.<\/p>\n\n\n\n By integrating a private blockchain network with automated settlement processes, UBS hopes to reduce transaction times, cut costs, and offer multinational clients a better experience. <\/p>\n","post_title":"UBS Tests Blockchain Payments For Cross-Border Transfers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ubs-tests-blockchain-payments-for-cross-border-transfers","to_ping":"","pinged":"","post_modified":"2024-11-10 22:38:16","post_modified_gmt":"2024-11-10 11:38:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19424","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n See Related:<\/em><\/strong> Swiss Watchdog FINMA Advocates For Stronger Powers After Credit Suisse's Near-Imploding Crisis<\/a><\/p>\n\n\n\n One noteworthy aspect of FINMA's proposed reforms is the emphasis on transparency. Amstad believes that publicizing FINMA's enforcement actions would enhance accountability and serve as a deterrent against malpractices.<\/p>\n\n\n\n While FINMA aims to influence banks' remuneration models, Amstad was quick to clarify that their role isn't to dictate salaries. Instead, they seek more robust legal mechanisms to intervene in remuneration systems effectively.<\/p>\n\n\n\n The unfolding developments at FINMA reflect a broader global trend toward strengthening financial regulations, particularly concerning executive remuneration. Switzerland's traditionally stringent confidentiality norms have often shielded regulatory actions from public scrutiny.<\/p>\n\n\n\n The Credit Suisse<\/a> episode serves as a wake-up call, highlighting the imperative for greater transparency and accountability. As FINMA endeavors to redefine its regulatory landscape, the international finance community watches closely, anticipating whether Switzerland will set a new precedent in balancing financial secrecy with robust oversight.<\/p>\n","post_title":"Banking Reforms: Swiss FINMA Seeks Enhanced Powers Over Executive Pay In Banks","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"banking-reforms-swiss-finma-seeks-enhanced-powers-over-executive-pay-in-banks","to_ping":"","pinged":"","post_modified":"2024-01-04 03:27:33","post_modified_gmt":"2024-01-03 16:27:33","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14863","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
A significant feature of the UBS Digital Cash system is its potential to transform liquidity management for corporate clients. During the pilot, UBS facilitated liquidity transfer between its branches, highlighting the platform's capability to optimize cash flow.<\/p>\n\n\n\n The bank explained that with increased visibility of their cash positions, firms can better manage intraday liquidity and adjust their buffers, ultimately improving financial control. UBS plans to continue expanding the capabilities of UBS Digital Cash, with future developments likely including enhancements to support a broader range of currencies and an extended network of clients.<\/p>\n\n\n\n By integrating a private blockchain network with automated settlement processes, UBS hopes to reduce transaction times, cut costs, and offer multinational clients a better experience. <\/p>\n","post_title":"UBS Tests Blockchain Payments For Cross-Border Transfers","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ubs-tests-blockchain-payments-for-cross-border-transfers","to_ping":"","pinged":"","post_modified":"2024-11-10 22:38:16","post_modified_gmt":"2024-11-10 11:38:16","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=19424","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":17177,"post_author":"1","post_date":"2024-06-03 02:41:29","post_date_gmt":"2024-06-02 16:41:29","post_content":"\n UBS has completed its acquisition of Credit Suisse, marking an important moment in the Swiss banking sector under a single and massive entity, Reuters reported. This significant milestone has brought about a sense of closure to the dramatic collapse of Credit Suisse and set the stage for an integration process that will reshape the future of UBS and its clients.<\/p>\n\n\n\n The completion of this merger means UBS has assumed all rights and obligations of Credit Suisse, including outstanding debt instruments. This merger follows the timeline UBS laid out, with support from global regulators facilitating the process.<\/p>\n\n\n\n With the merger complete<\/a>, UBS faces the task of integrating Credit Suisse\u2019s IT systems, client base, and workforce. The combined entity now has more than 110,000 employees. UBS CEO Sergio Ermotti highlighted the importance of this milestone, stating that it will \"unlock the next phase of cost, capital, funding, and tax benefits from the second half of 2024.\"<\/em><\/p>\n\n\n\n See Related: <\/em><\/strong>BlackRock Contracted To Dispose Of Credit Suisse Asset-Backed Bonds<\/a><\/p>\n\n\n\n Ahead of the merger completion, UBS announced changes to its executive board. The shake-up includes splitting its top wealth management role, and creating new responsibilities for key executives. This restructuring aims to streamline leadership and prepare the bank for the challenges and opportunities ahead.<\/p>\n\n\n\n The merger has created a single global bank in Switzerland with a balance sheet twice the size of the country's annual economic output. This consolidation has sparked concerns about the risks posed by a bank deemed \"too big to fail.\" The Swiss government is developing measures to mitigate these risks, emphasizing the need for robust regulatory frameworks.<\/p>\n\n\n\n UBS plans to transition to a single US intermediate holding company by June 7, with the merger of Credit Suisse Switzerland and UBS Switzerland expected in the third quarter of 2024. Despite initial market jitters following government proposals to address the TBTF risk, UBS shares have rebounded and are trading higher than before these plans were unveiled.<\/p>\n","post_title":"Swiss Financial Giant UBS Completes Credit Suisse Merger","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"swiss-financial-giant-ubs-completes-credit-suisse-merger","to_ping":"","pinged":"","post_modified":"2024-06-03 02:41:34","post_modified_gmt":"2024-06-02 16:41:34","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=17177","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14863,"post_author":"18","post_date":"2024-01-04 03:27:29","post_date_gmt":"2024-01-03 16:27:29","post_content":"\n In a significant move to bolster its regulatory framework, Switzerland's financial watchdog, FINMA, is pushing for the authority to claw back bankers' bonuses. This comes after the recent upheaval surrounding Credit Suisse's downfall and subsequent sale to UBS.<\/p>\n\n\n\n Marlene Amstad, the Chairwoman of FINMA<\/a>, emphasized the urgency of this issue in a recent interview with Schweiz am Wochenende. She highlighted the longstanding problem where banks like Credit Suisse have accumulated losses while still dishing out hefty bonuses to their executives.<\/p>\n\n\n\n The Credit Suisse debacle exposed significant gaps in FINMA's oversight capabilities. Critics lambasted the regulator for its inadequate response, prompting calls for enhanced powers. Among FINMA's wishlist is the ability to issue fines, disclose enforcement details, and impose specific responsibilities on senior bank executives. Interestingly, these proposed reforms mirror regulatory frameworks already in place in countries like Britain.<\/p>\n\n\n\n However, Amstad clarified that FINMA's limitations stem from legislative constraints, with the onus now shifting to the Swiss parliament for potential reforms. She underscored the need for punitive measures and appropriate incentives in remuneration structures.<\/p>\n\n\n\n
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Credit Suisse And Regulations<\/h2>\n\n\n\n
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Credit Suisse And Regulations<\/h2>\n\n\n\n
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FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
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FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
\n
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
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\n
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
\n
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
ADVERTISEMENT
\n
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
FINMA's Reforms<\/h2>\n\n\n\n
Credit Suisse And Regulations<\/h2>\n\n\n\n
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UBS Digital Cash<\/h2>\n\n\n\n
\n
Integration Challenges and Opportunities<\/h2>\n\n\n\n
Gaps In FINMA's Oversight<\/h2>\n\n\n\n
