Switzerland’s financial supervisor has been scrutinising how UBS vets risky wealthy clients that it wants to transfer from Credit Suisse, sources said, as the regulator takes a hands-on approach to the bank’s integration of its fallen rival.
Earlier this year, watchdog FINMA reviewed the filters UBS, currently worth $105 billion on the market, applies to screen Credit Suisse wealth management customers to ensure Switzerland’s banking giant doesn’t end up with problematic clients on its books, two sources with knowledge of the matter told Reuters, speaking on condition of anonymity because they were not authorized to speak to the media.
Source: REUTER
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