Big news from Switzerland: prosecutors just hit UBS with indictment charges over money laundering issues that date back to the Credit Suisse days. This is getting messy.

For context, UBS absorbed Credit Suisse in that emergency rescue deal, but now they're dealing with the legal baggage that came with it. The Swiss authorities aren't letting these allegations slide just because there was a merger.

What's interesting here is how regulators are holding acquiring institutions accountable for their predecessors' compliance failures. It's a reminder that in finance, you can't just sweep old problems under the rug with a corporate restructuring.

This case could set important precedents for how enforcement works when troubled banks get acquired. Worth watching closely, especially as the crypto industry faces similar questions about inherited liabilities when platforms merge or get bought out.