BusinessCompany NewsSwiss regulator to look into UBS

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
this month.

Further reading:

Shareholder demands audit into UBS
write-downs

Auditors pore over sub-prime accounts as year end
nears

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