: UBS shares drop on report DOJ probes Credit Suisse over Russian sanctions evasion

The Justice Department reportedly suspects Credit Suisse helped Russian clients evade sanctions, according to a published report. The report, from Bloomberg News, said what was a wide-ranging set of subpoenas sent to multiple banks is now focused on Credit Suisse. The report said the DOJ also is looking at possible compliance failures at UBS, Credit Suisse’s new parent. The report said neither UBS nor the Justice Department commented. UBS UBS shares skidded 5% in premarket trade.

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