Fed Ends Enforcement on UBS, Credit Suisse

The Federal Reserve Board announced termination of enforcement actions against UBS Group AG and multiple Credit Suisse entities, effective May 12, 2026.
The terminated actions include a July 21, 2023 cease‑and‑desist order covering UBS, Suisse Zurich, Credit Suisse Holdings (USA) and its York branch.
The original enforcement actions were issued in July 2023, with the Fed giving no details on the reasons for issuance or termination.
UBS completed its acquisition of Credit Suisse in June 2023 after the Swiss authorities rescued the troubled bank.