"ZURICH, Sept 27 (Reuters) - UBS shares fell on Wednesday after a report that the U.S. Department of Justice has stepped up scrutiny into alleged compliance failures that helped Russian clients evade sanctions.
UBS declined to comment to Reuters when asked for a response to the Bloomberg News report, which said the alleged compliance failures related to UBS and Credit Suisse, which was taken over by its larger rival UBS (UBSG.S) earlier this year."
UBS declined to comment to Reuters when asked for a response to the Bloomberg News report, which said the alleged compliance failures related to UBS and Credit Suisse, which was taken over by its larger rival UBS (UBSG.S) earlier this year."
"Trading in UBS shares was temporarily halted after they fell nearly 8% following the report. The Swiss bank's shares later recovered to trade 3.3% lower at 1500 GMT."
SOURCE:
https://www.reuters.com/business/finance/ubs-credit-suisse-face-wider-us-probe-over-russia-sanctions-bloomberg-news-2023-09-27/
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