UBS freezes plans for a wholly-owned Chinese mutual fund arm following Credit Suisse deal

UBS freezes plans for a wholly-owned Chinese mutual fund arm following Credit Suisse deal

FILE PHOTO: The logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, June 22, 2020. REUTERS/Arnd Wiegmann

UBS is suspending work on its application for a wholly-owned mutual fund company in China as it focuses on completing its acquisition of Credit Suisse and resolving regulatory issues raised by the new combination, according to people familiar with the matter.