An investigation was opened in Switzerland to determine how the operation in which the UBS bank acquired Credit Suisse was. The survey aims to detect inconsistencies and make the Swiss banking system transparent.
The federal prosecutor’s office Swiss confirmed this Sunday that it opened an investigation into the circumstances in which the acquisition of the bank took place Credit Suisse by his rival and compatriot UBSan operation encouraged by the Swiss federal authorities.
The prosecution wants to make sure that the financial center that is Switzerland is kept “clean”he said in an email to AFP.
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Purchase of Credit Suisse: they seek to know if there was financial malpractice
The federal prosecutor’s office “issued orders” to start an investigation” after having carried out “an inventory of the situation with all the internal services involved” and having “contacted the national and cantonal authorities,” he said, confirming information from the Financial Times.
“The federal prosecutor’s office wants to proactively fulfill its mandate and responsibility” to contribute to a “clean” Swiss financial system and has set up “monitoring that allows it to intervene immediately in case a problem arises within its area of competence,” he explains. .
“It is about analyzing and identifying any criminal offense that may be a competition” from the prosecution, the mail continues. the weekend of March 18 and 19, UBS agreed to pay 3 billion Swiss francs ($3.2 billion) to buy Credit Suisseat 0.76 francs per share, after intense negotiations with the finance ministry, the central bank and the Swiss market supervisory authority (Finma), which also offered guarantees against any eventual surprises found in their accounts.
With this they tried to avoid against the clock the collapse of the second bank in the country, on a tightrope due to the fear of international investors of the international financial situation, after the bankruptcy of several banks in the United States.
Source: Ambito
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