UBS CEO Says Swiss Regulation Among World’s Strictest

UBS Group AG Chief Executive Officer Sergio Ermotti has said that he is largely in favor of a plan for Switzerland to reform its financial system as the country continues to work through the consequences of last year’s crisis at Credit Suisse.

“We support most of the reform measures that have been proposed by the Federal Council and regulatory authorities,” Ermotti said at an event in Lucerne on Tuesday. That’s “despite the fact that the regulatory framework is already one of the world’s strictest,” he added.