While the US official praised UBS for its cooperation, one other source said it was made clear that failure to deal with the problem could be punished. Regulators in Switzerland are closely scrutinizing how UBS handles Credit Suisse clients and the bank's ...

The United States is pursuing an inquiry into Russian clients that UBS took on when it bought Credit Suisse, three people familiar with the matter said, heightening scrutiny of one of the world's biggest wealth managers.

The United States government has launched an investigation into the Swiss banking giant UBS regarding its handling of Russian clients that it inherited after taking over Credit Suisse earlier this year.