UBS Group (UBS) Chief Executive Sergio Ermotti said Monday that Switzerland should not set rules for its banking industry that would put the lender at a disadvantage, Reuters reported.
Switzerland is gearing up to overhaul the country's financial sector and authorities are due to propose stricter banking rules in coming weeks, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.