Credit Suisse investigation files to remain closed for 50 years triggering Swiss historian concerns

A parliamentary committee document revealed that Credit Suisse's investigation files will remain closed for 50 years. Swiss historians have started to voice concerns regarding this decision despite it being made to ensure the highest “levels of confidentiality.”

The investigation focuses its attention on three parts of the issue. The first was the Swiss government, the financial regulator, the central bank, and all the events leading to UBS’ emergency takeover of Credit Suisse.

"After the completion of the investigation, the files shall be handed over to the Federal Archives and shall be subject to an extended protection period of 50 years,"

This decision was the topic of concern for historians, with Swiss Society for History president Sacha Zala writing directly to Isabelle Chassott, a parliament upper house law-maker.

Zara: "Ideally, it should be possible to secure and make accessible the archive after an appropriate protection period has expired and, if necessary, subject to historical research conditions,"

Even before the UBS Group AG takeover, Credit Suisse bankers had already started to flood recruiters with job inquiries, according to dozens of firms, headhunters, and other rival lender companies, which all experienced an influx of calls from Credit Suisse staff.

A whistleblower said during that time that Credit Suisse has been helping wealthy Americans avoid paying US taxes.

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