Swiss Minister Says Lawmakers Fear UBS Will Cut Party Funding

Switzerland’s finance minister said some of the country’s lawmakers are reluctant to support stringent new capital requirements for UBS Group AG out of fear the bank could pull financial backing from their parties.

“I’m hearing from lawmakers they’re afraid that UBS might reduce contributions to their party,” Karin Keller-Sutter told newspaper Blick in an interview published on Tuesday. “They are under strong pressure” to oppose her plan even though they see it as the appropriate course of action, she said.