US Federal Reserve fines UBS $268.5 million over Credit Suisse Archegos malpractice

The US Federal Reserve announced a $268.5 million penalty against UBS for unsafe and unsound credit risk management practices previously conducted by Credit Suisse in its dealings with the Archegos Capital Management fund. UBS has agreed to pay the fine, which addresses legacy issues from before its June 2023 acquisition of Credit Suisse.

Detected & updated continuously · Source: Nebula