Swiss Government Directs Credit Suisse to Modify or Cease Bonus Payments for Senior Executives

TL;DR

The Swiss government has issued directives instructing Credit Suisse to modify or discontinue bonus payments for senior executives and examine whether bonuses already distributed can be recovered. The government also specified Credit Suisse must determine if recovered bonuses are possible and cancel or reduce executive bonuses accrued during the UBS merger. A push toward purpose over profit and service over self-interest illustrates the transition now underway in a system so steeped in disgrace

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