• UBS CEO Sergio Ermotti says the bank must broaden U.S. operations as Switzerland debates tougher capital rules.
• UBS obtained a U.S. national banking licence in March; expansion may involve acquisitions, which the CEO did not rule out.
• Parliament received a bill last month to make foreign expansion costlier; debate continues with a vote unlikely before September.
• Ermotti pledged to work until the last minute to protect UBS and Swiss interests, preparing for any scenario including possible HQ relocation.