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The Parliamentary Commission of Inquiry’s (PIC) investigations into the CS crisis are taking more time than originally planned. The remaining hearings are planned to be held in May. The final report should be ready by the end of the year.
“The original plan was to complete all hearings by the spring session,” parliamentary services said in a statement on Friday. However, due to their size, the remaining hearings could only be held later.
According to the latest information from the PUK, the commission has discussed the management of the authorities in the 15 meetings it has held so far, especially in the summer of 2022, when the crisis began, and during the acute crisis period (mid-March 2023). It will focus more on developments after 2015 in the coming months.
Details of the content are not yet known
PUK on the CS crisis closely examines the period from 2015 until the completion of CS’s emergency merger with UBS. The PUK’s task is to examine the management of the relevant authorities in connection with the emergency merger for legality, propriety and effectiveness. He must present the results of his investigations to the Parliament in the form of a report.
PUK is evaluating relevant documents and holding hearings. The list includes representatives of the Federal Council, the Ministry of Finance, the Financial Market Supervisory Authority (Finma) and the Swiss National Bank (SNB). PUK is not disclosing further details due to confidentiality requirements.
Two new PUK members
After the elections, PUK had to replace two members who could not be re-elected. State Councilor Matthias Michel (FDP/ZG) replaced Claude Bauer (FDP/NE), while National Councilor Beat Flach (GLP/AG) replaced Roland Fischer (GLP/LU).
According to its information, the Commission has so far granted five external mandates and identified two more contracts for which it will entrust external bodies. This information is important for evaluating the authorities’ management. (SDA/month)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
