UBS faces hit of hundreds of millions of dollars over Credit Suisse’s Archegos failings

UBS faces hundreds of millions of dollars in penalties over Credit Suisse’s mishandling of Archegos Capital after Swiss, US and UK regulators completed their investigations into the affair, according to people with knowledge of the probes.

Credit Suisse, whose takeover by rival UBS was completed last week, suffered the biggest trading loss in its 167-year history when family office Archegos imploded in March 2021.