Friday, 28 May 2021 02:13 PM MYT
Exasperation with Credit Suisse following a string of scandals is prompting Switzerland to rethink a system in which top bankers have been largely untouchable. Reuters pic
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FRANKFURT, May 28 Exasperation with Credit Suisse following a string of scandals is prompting Switzerland to rethink a system in which top bankers have been largely untouchable.
Credit Suisse’s heavy losses from the collapse of family office Archegos and the decimation of billions of client investments backed by insolvent British financier Greensill have angered regulators and triggered a rare discussion among lawmakers about fining bankers.
ZURICH – Exasperation with Credit Suisse following a string of scandals is prompting Switzerland to rethink a system in which top bankers have been largely untouchable. Credit Suisse’s heavy losses from the collapse of family office Archegos and the decimation of billions of client investments backed by insolvent British financier Greensill have angered regulators and triggered a rare discussion among lawmakers about fining bankers. The debate, the biggest public discussion …
Credit Suisse scandals prompt Switzerland to punish bankers Published: 8:02 PM, May 28, 2021
Switzerland s national flag flies above the logo of Swiss bank Credit Suisse at its headquarters in Zurich. - Reuters File Photo SHARE
FRANKFURT: Exasperation with Credit Suisse following a string of scandals is prompting Switzerland to rethink a system in which top bankers have been largely untouchable.
Credit Suisse s heavy losses from the collapse of family office Archegos and the decimation of billions of client investments backed by insolvent British financier Greensill have angered regulators and triggered a rare discussion among lawmakers about fining bankers.
The debate, the biggest public discussion about banking reform since the financial crash, centres on ending the current laissez-faire regime, where fines on bankers are not possible, to copy Britain s stricter rule book.
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