UBS Takeover of Credit Suisse Cleared by FINMA

Switzerland's financial regulator, FINMA, has ruled that the UBS takeover of Credit Suisse does not raise competition concerns, despite initial scrutiny and debate over UBS's dominance in Swiss markets post-acquisition. The regulator's decision, following a report from competition authority COMCO, signals the conclusion of the issue and allows UBS to proceed with the integration of Credit Suisse. While COMCO had raised concerns about weakened competition in asset management and limited alternatives in corporate banking, FINMA's review found no grounds for intervention, enabling the merger without additional conditions or obligations. The decision to approve the merger in advance under the Cartel Act was deemed necessary for creditor protection and the stability of the Swiss financial sector, aligning with FINMA's responsibilities in such cases.