UBS CEO: Swiss Capital Rules Debate Will Define Financial Centre’s Future
Impact of Capital Rules on Switzerland's Financial Sector
ZURICH, Sept 22 (Reuters) - The political debate on capital rules for UBS will influence the future of the Swiss financial centre for the next decades, UBS CEO Sergio Ermotti said on Tuesday.
UBS's Role in the Swiss Economy
He said that UBS was a benefit and not just a risk for Switzerland, but was concerned the debate was driven by incomplete information, he told an event in Zurich ahead of a parliamentary decision on Wednesday.
Concerns Over Incomplete Information
He expressed worry that the ongoing debate was being shaped by information that may not present the full picture, potentially impacting the outcome of the parliamentary decision.
Upcoming Parliamentary Decision
The remarks were made ahead of a key parliamentary decision scheduled for Wednesday, which could shape the regulatory landscape for years to come.
(Reporting by Ariane Luthi, writing by John Revill)
