FINMA has finalized its antitrust review of the proposed merger between UBS and Credit Suisse, announcing no conditions or obligations.
FINMA has finalized its antitrust review of the proposed merger between UBS and Credit Suisse, announcing no conditions or obligations.
FINMA has shared the final report of its antitrust review of the proposed merger between UBS and Credit Suisse, announcing no conditions or obligations will be imposed on the merger. The decision, reached after a thorough assessment, asserts that the consolidation of these two major banks will not diminish effective competition in any segment of the market.
Approval for the merger was available in advance by FINMA on March 19, 2023, under the provisions of the Cartel Act. This preemptive measure was essential for creditor protection and to safeguard the Swiss financial sector and international financial markets from potential adverse impacts. By assuming responsibility for competitive assessment in this case, FINMA superseded the Competition Commission (COMCO), prioritizing creditor interests as mandated by law.
During its scrutiny, FINMA determined that while UBS may strengthen its market position in specific sub-segments post-merger, overall competition in relevant markets would remain robust. Therefore, FINMA did not meet the regulatory requirements for intervening in the merger, resulting in the conclusion of the procedure without imposing any additional conditions or reviews.
Throughout the process, FINMA collaborated closely with COMCO, leveraging comprehensive market analyses and evaluating input from competitors, industry associations, and stakeholders. This collaborative effort provided FINMA with a solid foundation on which to reach its decision.
With the conclusion of the control procedure, FINMA’s specific role under the Cartel Act in this matter comes to an end. Both FINMA’s ruling and COMCO’s opinions are public to ensure transparency regarding the review process and its outcomes. Looking ahead, FINMA will continue to monitor the integration of Credit Suisse into UBS closely from a supervisory standpoint, underscoring its ongoing commitment to regulatory oversight in the Swiss financial industry.
Also, Stay Updated With The Latest Broker News. Stay Tuned.
Vantage is a well-decorated multi-asset broker based in Sydney, boasting over ten years of profound market knowledge. Operating in 172 countries, they employ a workforce of over 1,000 professionals distributed across 30 offices all across the globe.
Established in 2016, Blueberry Markets is an Australia-based broker that specializes in forex and CFD trading while being overseen by regulatory bodies ASIC. The broker provides traders globally with MetaTrader 4 and MetaTrader 5 trading platform options.
XM is a global online broker that specializes in Forex and CFD trading. Headquartered in Cyprus, the company operates under the regulation of CySEC. It offers traders the opportunity to trade various financial instruments, including forex pairs, commodities, indices, and stocks.
Please drop your email below to get daily updates about what we do
FX Broker Tester is your guide to uncovering dependable Broker partners perfectly aligned with your needs in the financial markets. Identify the ideal match by exploring the meticulous evaluation conducted by our team of seasoned analysts. Via our platform, you gain entry to comprehensive broker reviews, rankings, detailed comparisons, the latest broker news, and a calendar of worldwide Forex events.
