Parliament names 14-head commission to probe Credit Suisse crash
Switzerland’s parliament has announced the 14 members of a special commission that will look into Credit Suisse’s collapse and its subsequent rescue engineered by Swiss authorities.
This content was published on
1 minute
Reuters/ts
Español
es
El Parlamento suizo nombra una comisión para investigar Credit Suisse
Wednesday’s appointments, decided by parliament, marked one of the final steps needed for the panel to start its probe, with its exact mandate also yet due to be determined.
This is only the fifth time such a commission has been established in Switzerland’s modern history.
It follows a decision of two sub-committees last month to launch a deeper investigation into how the government, Swiss central bank and financial market regulator acted in the run up to the emergency rescue of Credit Suisse.
Under the rescue deal, UBS, Switzerland’s largest bank, agreed to take over Credit Suisse, marking the first rescue of a global bank since the 2008 financial crisis.
The government has provided the banks with CHF109 billion ($121 billion) in financial guarantees to facilitate the deal, causing widespread uproar in Switzerland.
More
More
UBS sets ‘red lines’ for Credit Suisse staff as it completes takeover
This content was published on
Diktat is designed to reduce risks of the transaction that was orchestrated by Swiss government.
The commission will be chaired by Isabelle Chassot from the Centre Party, while two other members of her party will also take part.
The right-wing Swiss People’s Party and the centre-right Radical-Liberal Party will have three members each, the left-wing Social Democrats and Greens two members each and the centrist Liberal Green Party one member.
Parliament did not say when the commission will start work.
More
More
Let’s Talk: What next after the Credit Suisse debacle?
This content was published on
The Let’s Talk debate webcast examines the implications of the Credit Suisse failure for Switzerland and its financial centre.
How is your country dealing with the return of stolen artifacts?
Western nations like Switzerland often have to deal with the process of recovering or returning looted artifacts which have been illegally imported. What’s the situation like in your country?
What do you think Switzerland’s Alain Berset can bring to the Council of Europe?
The former interior minister is to become the first Swiss Secretary General of the Council of Europe – which issues should his five-year term focus on?
Algerian to face trial in Switzerland for ties to Islamic State
This content was published on
A 51-year-old Algerian man has been charged by the Swiss Federal Prosecutor's Office for involvement in the banned terrorist group.
Sylvain Saudan, ‘skier of the impossible’, dies aged 87
This content was published on
The Swiss father of extreme skiing pioneered descents from the Alps to the Himalayas – and became the sport’s first star.
Hayek family buys additional Swatch shares for nearly CHF11 million
This content was published on
Following the acquisition of registered shares worth over CHF20.6 million on Monday, the Hayek family made another purchase on Tuesday.
Suicide capsule to be used in Switzerland this year, says euthanasia organisation
This content was published on
The organisation “The Last Resort” has confirmed that the suicide capsule Sarco is to be used in Switzerland. This should happen this year, it said.
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Ermotti shuffling deck of key personnel for enlarged UBS
This content was published on
UBS CEO Sergio Ermotti selects former executive Tom Naratil as a key member of the new management team, according to a newspaper report.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.