He should bring light to the CS affair

class=”sc-29f61514-0 kHgAwW”>

The leadership of the Council of States will also speak out on Wednesday before a Parliamentary Commission of Inquiry (PUK) into the demise of Credit Suisse. That is considered safe. Yes, even a name for the PUK boss is already doing the rounds: Secretary of State Daniel Fässler (62) is a promising candidate for the presidency. As a central politician, Appenzell’s lawyer is destined for this task.

Blick knows that the former Landammann has been asked to lead the PUK. He needs to think seriously about it. One thing is clear: it is not an easy job. After all, the taxpayer must answer to the CS with 259 billion Swiss francs.

Now it is the turn of the Council of States. It must then speak out for a PUK. “Politically there is no way out,” says the board of the Council of States – just after the control committees of the National Council and the Council of States have given the green light. A no would be “an insult”, according to an opinion maker in parliament.

It must be examined: Has the Netherlands Authority for the Financial Markets (Finma) fulfilled its task? Have outgoing Finance Minister Ueli Maurer (72) and the National Bank (SNB) watched the goings-on in the CS boardroom for too long? Did Maurer’s successor Karin Keller-Sutter (59) respond correctly? Should the legal preconditions be improved? The PUK should be able to investigate all of this.

decision in preparation

The Parliamentary Commission of Inquiry is Parliament’s strongest control instrument. It has significantly more powers than the Business Audit Commissions (GPK): it can not only see classified information and minutes of the Federal Council. Also, current and former federal employees and bank managers must give her information, while they may withhold it from the GPK.

The Commission of Inquiry also has its own secretariat and can hire additional staff. A PUK is therefore most likely trusted to bring light into the darkness.

What exactly needs to be investigated is laid down in a federal decree. A draft of the planned PUK is already available, but it is being kept top secret. But according to information from Blick, the paper is based on the 1995 assignment to the PUK to clarify organizational and management problems at the federal pension fund. The new decision should also give the PUK a lot of leeway to have a free hand for the investigation.

Once the PUK has formed, it must first clarify what has happened in the field of CS since last summer. Then the members would have to identify which questions need clarification and then recruit the experts they need for clarification.

party games?

The PUK is currently believed to be made up of seven representatives from both councils. Not all parties will always have the same opinion. For example, it can be foreseen that the SVP has no interest in the image of its former federal council member Maurer being damaged. The FDP will also not want their Treasury Secretary Keller-Sutter to be seen in a bad light. In principle, all parties should have an interest in determining which mistakes should be avoided in the future.

Internally, the parties have already approved the draft mandate. The PUK resolution will go to the National Council in the summer session, and later to the Council of States. Both councils must agree.

Source:Blick