🚨 BREAKING 🚨 UBS, a Swiss bank, fined $388 million by the Bank of England's Prudential Regulation Authority and the US Federal Reserve for misconduct related to Credit Suisse, acquired in June. The Fed cited failure to "adequately manage" risk from Archegos, a family investment vehicle. Archegos' collapse in 2021 cost Credit Suisse $5.5 billion. #BankingScandal #FinancialMisconduct