The office of the Attorney General is looking into potential breaches of the country’s criminal law by government officials, regulators and executives
Switzerland’s federal prosecutor has opened an investigation into the emergency merger of Credit Suisse and UBS.
The office of the Attorney General is looking into potential breaches of the country’s criminal law by government officials, regulators and executives.
The UBS takeover of Credit Suisse was engineered by Swiss authorities, in a bid to rein in turmoil in global banking.
Politicians and the Swiss public have voiced concerns over how much state support has been offered in the deal.
Nearly 260 billion Swiss francs in liquidity and guarantees offered by the government and Swiss National Bank.
Once the takeover is complete, Credit Suisse is set to reduce its workforce by 30 per cent.
