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UBS fined nearly $400 million related to Credit Suisse's relationship with failed fund Archegos

Por: ABC News Business July 24, 2023

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NEW YORK -- Swiss banking giant UBS will pay nearly $400 million in fines to U.S., Swiss and U.K. banking authorities for the management failures of Credit Suisse, which UBS bought in June, related to how Credit Suisse handled its relationship with collapsed hedge fund Archegos Capital Management. Archegos failed in 2021, costing Wall Street banks billions of dollars in losses, and Credit Suisse took the brunt of the losses. The Swiss bank took... + full article



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