Federal Reserve Board terminates enforcement actions against UBS, Credit Suisse entities
The Federal Reserve Board announced on May 15, 2026, that it had terminated enforcement actions against UBS Group AG, Credit Suisse AG, and related affiliates. The actions included a Cease and Desist Order originally issued on July 21, 2023. The termination of that order took effect on May 12, 2026. The announcement covered entities based in Zurich, Switzerland, and New York. No other details about the nature of the enforcement actions or the reason for termination were provided in the release. This report is based solely on the Federal Reserve Board’s press release.
What’s reported
The Federal Reserve Board announced the termination on May 15, 2026.
The enforcement action was a Cease and Desist Order dated July 21, 2023.
The termination was effective May 12, 2026.
Entities involved: UBS Group AG (Zurich), Credit Suisse AG (Zurich), Credit Suisse Holdings (USA), Inc. (New York), and Credit Suisse AG, New York Branch.
The announcement was made at 11:00 a.m. EDT on Friday.
Sources: federalreserve.gov
