From CNBC: 2024-04-11 04:41:36

Switzerland introduces tough new banking regulations that impact UBS, potentially hindering its ability to challenge Wall Street. The 209-page plan aims to police banks deemed “too big to fail” after UBS rescued Credit Suisse in the largest bank merger since the Global Financial Crisis. Despite speculation, regulatory changes may not address concerns adequately, creating a lose-lose situation for UBS and Switzerland’s financial center competitiveness. Analysts suggest that UBS should align with global regulatory norms to optimize its potential and compete with Wall Street giants. The report highlights the need for better regulation enforcement and oversight to prevent future financial crises.

Read more: New Swiss bank laws could derail UBS’ challenge to Wall Street giants