Financial Watchdog Embraces Stronger Oversight

Switzerland's financial regulator FINMA has shown support for recommended enhancements to its powers, following a report scrutinizing the collapse of Credit Suisse. Although the organization faces criticism, it is committed to bolstering its supervisory role and applying lessons from the incident.

Switzerland's financial market regulator, FINMA, has welcomed recommendations aimed at strengthening its authority powers, emerging from a new report on the collapse of Credit Suisse released on Friday.

FINMA has also recognized the criticisms outlined in the report, acknowledging areas for improvement within the organization.

The regulatory body has committed to enhancing its supervisory capacities and implementing key learnings from the Credit Suisse incident.

(With inputs from agencies.)