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The Fed and U.K. and Swiss regulators have settled a major case of unsafe counterparty credit risk management practices.
UBS Group is paying $387 million in fines to the U.S. Federal Reserve System and the U.K.’s Prudential Regulation Authority and finalizing proceedings with the Swiss Financial Market Supervisory Authority (FINMA) — in an effort to close the Archegos Capital Management chapter in the history of Credit Suisse, now a subsidiary of its former Swiss...
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