Reported 4 months ago
Swiss financial regulator FINMA wants to enhance its powers by being able to publicly name and shame banks that violate its regulations. The CEO, Stefan Walter, believes that publicizing enforcement proceedings would have a disciplinary effect and demonstrate the effectiveness of supervision. FINMA also seeks a senior managers regime to assign responsibility to individuals and ensure accountability. These proposed changes come after criticism over the handling of Credit Suisse's collapse, with UBS expressing concerns about potential regulation adjustments.
Source: YAHOO