Greens call for “Lex UBS”
Published: Friday, Dec 20th 2024, 13:10
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The Greens are calling for a "Lex UBS" for Switzerland. This law is intended to get the megabank created after the takeover of Credit Suisse by UBS under control, according to a press release issued by the party on Friday.
The "Lex UBS" could include stricter rules for corporate governance, compensation for the implicit state guarantee and a capital buffer. According to Gerhard Andrey (NR/FR), this "Lex UBS" would do justice to the risks posed to Switzerland by the new megabank. It would also have to be examined whether UBS could be divided into economically viable units, for example by introducing a separate banking system.
For the Greens, the report of the Parliamentary Commission (PUK) makes it clear that the bank-friendly regulation of the bourgeois parties did nothing to counter the years of mismanagement by Credit Suisse bank executives and was unable to prevent the bank's collapse. According to the Greens, the report confirms the suspicion that Credit Suisse had danced on the nose of the Swiss Financial Market Supervisory Authority (FINMA) for years.
©Keystone/SDA
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