UBS Remains Under Swiss Regulator’s Magnifying Glass

null By Richard VanderfordNov. 9, 2023 4:55 pm ETThe risks of cyberattacks, information-technology disruptions and fraud have significantly increased during the integration of UBS and Credit Suisse, Finma, Switzerland’s financial regulator said. Photo: fabrice coffrini/Agence France-Presse/Getty ImagesUBS is facing scrutiny from Finma, Switzerland’s chief financial regulator, as it integrates with Credit Suisse following the merger of the two global banks this year, the regulator said, adding that it will appoint outside monitors to oversee the process.The risks of cyberattacks, information-technology disruptions and fraud have significantly increased during the integration of UBS and Credit Suisse, Finma said Thursday in an annual risk outlook report. The regulator also noted an overarching concern that a lack of a “holistic overall risk view” could mean that controls are inadequate.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Contin