DOJ Intensifies Probe Into Credit Suisse, UBS Group Over Alleged Russian Sanctions Evasion
Portfolio Pulse from Piero Cingari
The US Department of Justice (DOJ) is intensifying its investigation into UBS Group AG (NYSE:UBS) and Credit Suisse Group for alleged failures in compliance, which may have allowed Russian clients to evade sanctions. The investigation has transformed from a series of subpoenas to a full-fledged investigation, with a primary focus on Credit Suisse Group. UBS, which took over Credit Suisse in June, has been notified about the alleged involvement of its recently acquired subsidiary in sanctions violations.

September 27, 2023 | 1:37 pm
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UBS Group is under investigation by the DOJ for alleged failures in compliance that may have allowed Russian clients to evade sanctions. The news has negatively impacted UBS's stock price.
The DOJ's intensified investigation into UBS Group's alleged failures in compliance is a significant legal and regulatory issue for the company. This negative news has already impacted the company's stock price, which was down 3.31% at the time of the news publication. If the investigation results in charges or penalties, it could further negatively impact UBS's stock price in the short term.
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