ZURICH, April 8 (Reuters) - Switzerland's financial

market regulator FINMA said on Tuesday it had carried out 45

on-site reviews of UBS in 2024 as the bank integrates

its old rival Credit Suisse, which collapsed in 2023.

Presenting its annual report for 2024, FINMA said it had

maintained a detailed dialogue on integration issues with

Switzerland's remaining big bank, noting that "all applicable

regulatory requirements were satisfied at all times."

The regulator said it would make even greater use of its

discretionary powers in the future.

FINMA said it worked on reducing risks from transactions

related to Credit Suisse business that would not be integrated

and asked for a review of the client base acquired from Credit

Suisse for non-financial risks, such as high-risk client groups

or regions.

FINMA also monitored UBS's risk management and supervised

migration of clients, specifically in asset management.

In total, FINMA carried out 733 investigations and concluded

38 proceedings against companies and individuals in 2024.

It was in favour of a clear legal basis for early

intervention, the power to more actively communicate about

supervision and the power to levy fines, FINMA added.

"FINMA is not concerned with more rules in general, but with

greater consequences in the event of a breach of the existing

rules," director Marlene Amstad said. "Anyone who abides by the

rules does not have to fear FINMA's power to levy fines."