UBS’s Villiger Criticizes ‘Patchwork’ Rules for Global Banks

UBS AG (UBSN) Chairman Kaspar Villiger said that “patchwork” rules applied to banks worldwide only make life more difficult for globally-active financial firms as well as for other companies, which will affect economic growth.

This will create new risks instead of cutting risks, Villiger said in a speech in Zurich today.

To contact the reporter on this story: Elena Logutenkova in Zurich at elogutenkova@bloomberg.net

To contact the editor responsible for this story: Paul Verschuur at pverschuur@bloomberg.net

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