She said that most of the regulator's probes into banks had to remain secret to protect stability, adding that this should change. (Reporting By John O'Donnell Editing by Tomasz Janowski)
BERN, April 5 (Reuters) - Switzerland's financial
regulator FINMA called for more power to penalise and name and
shame banks that break the rules, following the collapse of the
country's second-biggest bank, Credit Suisse.
"Our instruments hit their limits in extreme cases as seen
in the case of Credit Suisse," FINMA president Marlene Amstad
told journalists. Amstad said it would be worth building these
powers.
"FINMA has no power to fine," she said, adding that she
would welcome such a power. "It's an exception when compared
with other regulators."
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