UBS has been fined $268.5 million by the US Federal Reserve Board due to Credit Suisse's misconduct in 2021. UBS acquired Credit Suisse in March 2023, and the misconduct involved Credit Suisse's unsafe counterparty credit risk management practices with Archegos Capital.

The risk management deficiency occurred due to the default of Archegos in 2021, which caused Credit Suisse to suffer approximately $5.5 billion in losses. The US Fed Board has required Credit Suisse to improve its counterparty credit risk management practices and address additional longstanding deficiencies in other risk management programs at its US operations.