How much does the Finma action really matter to UBS?

The Swiss regulator has put the naughty hat on UBS's investment bank, but the business was already on a path of self-improvement

The Swiss financial regulator has come down hard on UBS' investment-banking arm, putting the brakes on any expansion plans it may have entertained. The problem is, the investment bank was already in reverse.

According to a statement yesterday from Finma, the Swiss Financial Market Supervisory Authority: "Any new business initiatives which UBS intends to take in its investment bank and which are likely to lead to increased operational complexity require prior approval from Finma."

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