Following completion of the merger of UBS AG and Credit Suisse AG, Credit Suisse AG’s business was transferred to UBS AG, and Credit Suisse AG ceased to exist. At this time however, the two entities did not operationally merge and, as a result, we continue to have two sets of operational infrastructure and processes during this transitionary period.
Consequently UBS AG is now the sole parent entity and all direct subsidiaries of Credit Suisse AG have become direct subsidiaries of UBS AG, and all branches of Credit Suisse AG have been absorbed into existing or established as new branches of UBS AG (as the case may be). As such, Credit Suisse AG’s branches have been renamed as UBS Branches, with the exceptions of Credit Suisse AG, Taipei Securities Branch and Credit Suisse AG Shanghai Branch.
Click hereAll about the Parent Bank Merger for the latest updates on how we continue to serve clients.
The Financial Services Agency of Japan has tightened controls regarding Short Selling and announced restrictions prohibiting Naked Short Selling effective October 30th, 2008. Consequently, all clients placing short sell orders must have the required borrow arrangement in advance to ensure delivery on settlement date.
This notice is to inform you of the terminology change whereby Credit Suisse shall not be able to accept any Naked Short Sell orders and therefore will be redefining "Short Sell" order as "Short Sell with Locates" order.
Any settlement failure linked to Short Selling will be treated with the highest attention.
We appreciate your full understanding and cooperation to ensure compliance with the new regulation that has been placed on short sell orders.
