Parliamentarians voted out: PUK to Credit Suisse is looking for new members

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New members are being sought for the CS-PUK following the change in the law at the beginning of December.

The parliamentary services announced this at the request of the Keystone-SDA news agency. Both national councilor Roland Fischer (GLP/LU) and Philippe Bauer (FDP/NE) failed to be re-elected. They need to be replaced. PUK chairman Isabelle Chassot (centre/FR) has to go to a second voting round on November 12.

In concrete terms, according to the parliamentary services, the FDP and GLP factions will submit a proposal on who should take a seat in the PUK for those who are not re-elected. The members of the committee are elected by the relevant agency. If Chassot is not re-elected, the coordination conference – the Office of the National Council and the Office of the Council of States – would determine her successor as PUK president.

The changes had no impact on the organization of the PUK, the parliamentary services continued. “No significant delays are expected at this time.” The PUK had previously planned that the investigations would last at least until the beginning of the next spring session, that is, until approximately the beginning of March 2024.

Detailed analysis

The PUK on the CS crisis examines the period from 2015 to the completion of the emergency merger of CS with UBS. The PUK’s mandate is to examine the management of authorities relevant to the emergency merger for legality, appropriateness and effectiveness. She must present the results of her research in a report to the House of Representatives.

The PUK will review relevant documents and hold hearings. The list includes representatives of the Federal Council, the Ministry of Finance, the Financial Markets Supervisory Authority (Finma) and the Swiss National Bank (SNB). The PUK will not disclose further details due to confidentiality requirements. (SDA)

Source:Blick