Federal Reserve Terminates Enforcement Actions Against UBS and Credit Suisse
On May 15, 2026, the U.S. Federal Reserve Board announced the termination of cease-and-desist orders originally issued on July 21, 2023, against UBS Group AG, Credit Suisse AG, and their U.S. subsidiaries. The termination, effective May 12, 2026, indicates that the banks have resolved compliance deficiencies and restored regulatory standing. This marks a key milestone in the post-acquisition integration of Credit Suisse into UBS, removing specific supervisory constraints and signaling normalized oversight.
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Federal Reserve Board Terminates Enforcement Actions Against UBS and Credit Suisse Entities
On May 15, 2026, the Federal Reserve Board announced the termination of enforcement actions against UBS Group AG, Credit Suisse AG, Credit Suisse Holdings (USA), Inc., and Credit Suisse AG, New York Branch. The cease and desist order, originally issued on July 21, 2023, was terminated effective May 12, 2026. This action marks the conclusion of regulatory scrutiny related to the entities' compliance with U.S. banking laws and regulations. The termination suggests that the firms have addressed the Federal Reserve's concerns and met the required corrective measures. The press release provides links to the original enforcement order and a search tool for other actions.
FRB: Press Release - All ReleasesFederal Reserve Board Terminates Enforcement Actions Against UBS and Credit Suisse Entities
On May 15, 2026, the Federal Reserve Board announced the termination of enforcement actions against UBS Group AG, Credit Suisse AG, Credit Suisse Holdings (USA), Inc., and Credit Suisse AG, New York Branch. The cease and desist order, originally issued on July 21, 2023, was terminated effective May 12, 2026. This action marks the conclusion of regulatory scrutiny related to the prior enforcement measures, reflecting the Federal Reserve's assessment that the entities have addressed the underlying issues. The press release provides links to the original order and a search tool for other enforcement actions.
FRB: Press Release - All ReleasesFederal Reserve Terminates Enforcement Actions Against UBS and Credit Suisse Entities
The Federal Reserve Board announced on May 15, 2026, the formal termination of enforcement actions against several major banking entities, including UBS Group AG, Credit Suisse AG, Credit Suisse Holdings (USA), Inc., and the New York Branch of Credit Suisse AG. The specific enforcement measure terminated was a Cease and Desist Order originally issued on July 21, 2023. This regulatory closure signifies that the institutions have successfully addressed the compliance issues or deficiencies that prompted the initial order. The termination became effective on May 12, 2026. This development marks a significant step in the regulatory normalization for these entities, particularly following the complex integration processes involving UBS and Credit Suisse. The announcement serves as an official confirmation that the Federal Reserve no longer requires these specific corrective measures, allowing the banks to operate without the constraints of the previous enforcement directive. This news is relevant to stakeholders in the global financial sector, indicating improved regulatory standing for the involved Swiss and US-based banking units.
FRB: Press Release - All ReleasesFederal Reserve Terminates Enforcement Actions Against UBS and Credit Suisse Entities
The Federal Reserve Board announced on May 15, 2026, the formal termination of enforcement actions against several major banking entities, including UBS Group AG, Credit Suisse AG, Credit Suisse Holdings (USA), Inc., and the New York Branch of Credit Suisse AG. The specific regulatory measure concluded was a Cease and Desist Order originally issued on July 21, 2023. This order was officially terminated on May 12, 2026, marking the end of the supervisory restrictions imposed on these institutions. The announcement signifies that the Federal Reserve has determined that the entities have satisfactorily addressed the issues that led to the initial enforcement action. This development is significant for the involved financial institutions, particularly in the context of the ongoing integration and regulatory scrutiny following UBS's acquisition of Credit Suisse. The removal of these enforcement actions allows the banks to operate without the specific constraints previously mandated by the Federal Reserve, reflecting a restoration of full compliance standing in the eyes of the US central bank.
FRB: Press Release - All ReleasesFederal Reserve Board Terminates Enforcement Actions Against UBS and Credit Suisse Entities
On May 15, 2026, the Federal Reserve Board announced the termination of enforcement actions against UBS Group AG, Credit Suisse AG, Credit Suisse Holdings (USA), Inc., and Credit Suisse AG, New York Branch. The cease and desist order, originally issued on July 21, 2023, was terminated effective May 12, 2026. This action marks the conclusion of regulatory oversight related to the prior enforcement measures, reflecting the Federal Reserve's assessment that the entities have addressed the underlying concerns. The press release provides links to the original order and a search tool for other enforcement actions.
FRB: Press Release - All Releases