ZURICH:
A parliamentary committee paper reveals that the files of the investigation into the collapse of Credit Suisse would be sealed for 50 years, a level of secrecy that has alarmed Swiss historians.
Since this case has garnered so much attention, the paper states that the investigative committee will only transfer its data to the Swiss Federal Archives after a substantially longer period of time than the standard 30 years.
The Swiss government, banking regulator, and central bank will be the primary targets of the probe into the March emergency takeover of Credit Suisse by UBS.
The committee of MPs conducting the investigation has broad authority to consult the Swiss cabinet, the finance ministry, and other state bodies; it is only the fifth probe of its sort in contemporary Swiss history.
The committee mandated in its strategy paper that after the investigation was over, the relevant documents would be transferred to the Federal Archives and given a 50-year extended protection period.
The Swiss Historical Society expressed concern at the duration.
