UBS to be Penalized for Credit Suisse's Archegos Mishap

UBS Group AG may face hundreds of millions of dollars in penalties over Credit Suisse's mishandling of Archegos Capital, after UK, Swiss and U.S. regulators completed their investigations. UBS has asked the regulators to publish their findings and announce any penalties jointly at the end of July. Credit Suisse had set aside just $35 million for potential fines, while UBS had set aside $4 billion for potential lawsuits on the Credit Suisse deal in May.