FINMA Investigating Credit Suisse's Final Months

(RTTNews) - Swiss financial market regulator FINMA is investigating the final 15 months of Credit Suisse as an independent bank and its rescue by UBS Group AG, Swiss newspaper SonntagsZeitung reported on Sunday.

The report stated that Finma issued a 36-page order to Credit Suisse, which now only exists in name, and UBS in September 2023 setting out its investigation.

A UBS spokesperson declined to comment. Spokespeople for Finma and the Swiss Finance Ministry declined to comment.

The report specified that the Finma investigating Credit Suisse covering the period between January 1, 2022 and March 19, 2023, and the secret investigation is not only concerned with the liquidity issue, but also with management in general and the state of Credit Suisse's equity.

In May, UBS Group had completed the merger of UBS AG and Credit Suisse AG.