On April 2, the Financial Times reported that Swiss federal prosecutors had launched an investigation into Credit Suisse’s government-backed takeover by larger rival UBS. Bern-based prosecutors are investigating whether government officials, regulators and executives involved in the two banks violated Swiss criminal law.

Last month, the two banks agreed on an emergency merger over just one weekend in a bid to avert a potentially catastrophic financial crisis. The Swiss Federal Prosecutor's Office said: "The Federal Prosecutor's Office wants to actively fulfill its mission and responsibilities and contribute to the establishment of a clean Swiss financial center and has established supervisory mechanisms to take immediate action in any case within the scope of its activities. Action." Prosecutor Stefan Blättler has issued a series of "investigative orders" to government agencies.