UBS Group AG (SIX:UBSG) won a regulatory green light as the SEC won’t object to converting certain debt to equity under Swiss crisis rules while SNB chair says proposed capital rules aren’t excessive, and the bank joins SWIFT’s blockchain pilot to tokenise 24/7 fund transfers.
Previous Week Recap
- Securities Conversion Under Crisis Rules: SEC said it won’t object if UBS converts certain debt to equity under Swiss crisis rules; conversion would be an offer/sale under U.S. law but may be exempt from registration.
- SNB Aligns UBS Capital Rules: SNB Chair Martin Schlegel said Swiss proposed capital rules for UBS Group AG are not excessive and align with the SNB’s view that UBS is well capitalized, referencing the regulatory measures.
- UBS Joins SWIFT Token Pilot: UBS Group AG joins SWIFT’s blockchain ledger pilot with 15 banks to enable 24/7 tokenized fund transfers and interoperability between banks’ token payment systems.
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