US Steps Up Probe of UBS, Credit Suisse Sanction Breaches

The DOJ has alerted UBS about potential sanctions violations involving Credit Suisse clients. This early-stage investigation has caused UBS shares to react, as issues with Credit Suisse now affect UBS. The DOJ is examining communications with Russian executives, which could breach sanctions. UBS is dealing with past legal issues tied to Credit Suisse and has set aside reserves for potential liabilities. The investigation's outcome is uncertain, and UBS is working to understand the scope of the problem.

What challenges does Sergio Armani face regarding the new legal issues?

What steps is UBS likely to take in response to the DOJ's investigation?