UBS is trying to reassure investors that its acquisition of Credit Suisse will not ensnare it in a similar regulatory investigation and scandal.
Ubs said over the weekend: "Recent reports that the US Department of Justice is investigating Credit Suisse and UBS for failing to meet sanctions-related compliance requirements are inaccurate. We are not aware of such an investigation."
Bloomberg reported last week that the US Justice Department was conducting a full investigation of Credit Suisse in connection with Russia-related sanctions, and UBS was also under investigation. That caused UBS shares to fall, but the stock has since recovered most of its losses.
Ubs also confirmed on Sunday that it had resolved a long-running legal dispute between Mozambique and Credit Suisse. The Wall Street Journal...
UBS is trying to reassure investors that its acquisition of Credit Suisse will not ensnare it in a similar regulatory investigation and scandal.
Ubs said over the weekend: "Recent reports that the US Department of Justice is investigating Credit Suisse and UBS for failing to meet sanctions-related compliance requirements are inaccurate. We are not aware of such an investigation."
Bloomberg reported last week that the US Justice Department was conducting a full investigation of Credit Suisse in connection with Russia-related sanctions, and UBS was also under investigation. That caused UBS shares to fall, but the stock has since recovered most of its losses.
Ubs also confirmed on Sunday that it had resolved a long-running legal dispute between Mozambique and Credit Suisse. The Wall Street Journal reported on Thursday that the settlement was in its final stages and that UBS would not pay any cash.