Swiss regulator rules out UBS antitrust action over Credit Suisse deal

ZURICH, June 19 (Reuters) – Switzerland’s financial regulator on Wednesday ruled that the UBS (UBSG.S), opens new tab takeover of Credit Suisse did not create any competition concerns, despite recommendations from the country’s antitrust watchdog that it merited further scrutiny.

Debate has been vigorous in Switzerland about the size and power of UBS, which analysts say has a dominant position in areas such as Swiss loan and debt markets since it took over Credit Suisse last year in a state-engineered rescue.