Anonymous ID: 5aa766 July 25, 2023, 3:55 p.m. No.19240728   🗄️.is 🔗kun   >>0744

July 24, 2023

 

Federal Reserve Board announces a consent order and a $268.5 million fine with UBS Group AG, of Zurich, Switzerland, for misconduct by Credit Suisse, which UBS subsequently acquired in June 2023

 

The Federal Reserve Board on Monday announced a consent order and a $268.5 million fine with UBS Group AG, of Zurich, Switzerland, for misconduct by Credit Suisse, which UBS subsequently acquired in June 2023. The misconduct involved Credit Suisse's unsafe and unsound counterparty credit risk management practices with its former counterparty, Archegos Capital Management LP.

 

https://www.federalreserve.gov/newsevents/pressreleases/enforcement20230724a.htm