Swiss regulator to look into UBS
Regulator looks at Swiss bank, which has sustained heavy losses during the sub-prime mortgage crisis
Swiss banking regulator the Federal Banking Commission is looking into the
heavy credit losses sustained by UBS.
The regulator is also upping the pressure on UBS to increase its capital base
to overcome the credit crunch as swiftly as possible.
The bank is also under pressure from shareholder group Ethos, which is
calling for a special audit into the bank following the credit crunch.
Since the liquidity freeze, UBS has endured a nightmare quarter and was
forced increase the size of its original write downs to $14bn (£7bn) from $4bn