07:47 AM EDT, 10/15/2026 (MT Newswires) -- The Federal Supreme Court of Switzerland ruled that the Swiss government was right to reduce or cancel the bonuses of up to 1,000 former Credit Suisse employees when UBS Group (UBSG.SW) acquired the bank in 2023. The court said the measure was lawful because the merger between the Swiss private banks required taxpayer funds and these should not be used to pay high variable compensation, adding that the country's banking law provides enough legal basis for the decision, according to a Thursday release. The final verdict overturns a 2025 ruling by a lower court that supported the appeal of 12 employees, arguing that the Swiss finance ministry's decision to cut or reduce the bonuses was unlawful due to the lack of sufficient statutory basis. UBS takes note of the decision, a spokesperson told MT Newswires.

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