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Swiss regulator studies UBS
- Saudi Arabia: Monday, December 24 - 2007 at 08:45
Switzerland's Federal Banking Commission is to investigate how the UBS bank accumulated writedowns of some $14bn due to the ongoing credit crisis, reported Reuters. The regulator will also seek to find out who was responsible for the mega losses. UBS sold a 9% stake to Singapore's government and a smaller stake to un-named Saudi Arabian investors earlier this month.
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Jonathan Sheikh-Miller, Deputy EditorMonday, December 24 - 2007 at 08:45 UAE local time (GMT+4)
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