Aggregated News From Investment Management Regulators

FINMA welcomes dividend action taken by major banks

Report/Flag

Please complete the required fields.



The Swiss Financial Market Supervisory Authority FINMA welcomes the step announced today by UBS Group AG and Credit Suisse Group AG to postpone half of their planned dividend distributions for 2019 despite their position of capital strength.

UBS Group AG and Credit Suisse Group AG announced today that they will postpone half of their planned dividend distributions for 2019 to the fourth quarter of 2020. FINMA welcomes this significant step, which was taken after FINMA wrote to the boards of directors of both banks asking them to reconsider their dividend plans. FINMA views this precautionary measure taken by both institutions as a way of simultaneously dealing with the major uncertainties associated with the COVID-19 crisis and addressing shareholders’ expectations. This fits into a united and internationally coordinated effort by all concerned to meet the challenges of the COVID-19 crisis.

Contact

Tobias Lux, Media Spokesperson
Tel. +41 31 327 91 71 [email protected]

and

Vinzenz Mathys, Media Spokesperson
Tel. +41 31 327 19 77 [email protected]

Regulator Information

Abbreviation: FINMA
Jurisdiction: Switzerland

Recent Articles

McCarter Capital Partners

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

TorexFX/42 Marketing Limited (clone of FCA authorised firm)

Fraudsters are using the details of firms we authorise to try to convince people that they work for a genuine, authorised firm. Find out...

Federal Reserve Board issues enforcement action with Texico Bancshares Corporation and Texico State Bank

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below.

eagle advisory services

We believe this firm may be providing financial services or products in the UK without our authorisation. Find out why you should be wary...

BAM Bundesweites Anlagenmanagement UG (haftungsbeschränkt), Hamburg/Berlin: information from BaFin with regard to the winding up of unauthorised deposit business

After reviewing the situation, BaFin has made the following arrangements to ensure that the purported “blocked accounts” (Sperrkonten) are wound up in an orderly manner. I.

Get the latest from Regulatory.News in your inbox!

×