UBS CEO Ermotti Says Swiss Regulation Among World's Strictest [BNN Bloomberg (Canada)]
Nuvei Corporation (NVEI)
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Source: BNN Bloomberg
“We support most of the reform measures that have been proposed by the Federal Council and regulatory authorities,” Ermotti said at an event in Lucerne on Tuesday. That's “despite the fact that the regulatory framework is already one of the world's strictest,” he added. UBS would face sharply higher capital requirements should the Swiss government adopt a proposal to tighten rules around foreign currency reserves. Ermotti has criticized regulators, including Switzerland's Finma, for failing to prevent the collapse of confidence at Credit Suisse. At the same time, he's argued that stricter capital rules are not the best response. “We have to learn the right lessons from the events of March 2023,” Ermotti said at an event in Lucerne, Switzerland on Tuesday. “That goes for all that were involved in the leadership and oversight of Credit Suisse over the years.” ©2024 Bloomberg L.P. Top Picks Top Stories Nvidia becomes world's most valuable company as AI rally steams ahead E
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- 6/20/24 - Form 6-K
- 6/18/24 - Form 6-K
- NVEI's page on the SEC website