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Violation Tracker Individual Record

Company: UBS Group AG
Current Parent CompanyUBS
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $268,500,000
Year: 2023
Date: July 24, 2023
Offense Group: financial offenses
Primary Offense: banking violation
Violation Description: The Federal Reserve Board announced a consent order and a $268.5 million fine with UBS Group AG, of Zurich, Switzerland, for misconduct by Credit Suisse, which UBS acquired in June 2023. The misconduct involved Credit Suisse's unsafe and unsound counterparty credit risk management practices with its former counterparty, Archegos Capital Management LP.
Level of Government: federal
Action Type: agency action
Agency: Federal Reserve
Civil or Criminal Case: civil
HQ Country of Current Parent: Switzerland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data(click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.