Inquiry to focus on whether emergency state-backed UBS takeover breached criminal law
Switzerland’s federal prosecutor has launched an investigation into whether last month’s state-backed takeover of the stricken bank Credit Suisse by its bigger rival UBS broke Swiss criminal law.
The office of the attorney general said it was looking into potential breaches by government officials, regulators and executives at the two banks who thrashed out an emergency merger over a frantic weekend in mid-March to prevent a wider financial meltdown.