Following its takeover of Credit Suisse earlier this year, UBS is expected to face substantial penalties totaling hundreds of millions of dollars over Credit Suisse's mishandling of Archegos Capital.
The losses incurred by Credit Suisse in the Archegos collapse were the largest among international banks, amounting to $5.5 billion. UBS, on the other hand, lost only $861 million. A private investigation commissioned by Credit Suisse into its dealings with Archegos revealed a fundamental failure of management and controls, as well as a lackadaisical attitude towards risk.
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