A UBS logo is seen next to Credit Suisse at the Bahnhofstrasse before a news conference of Swiss bank UBS in Zurich Switzerland, August 30, 2023. The court, which also upheld the guilty verdict against the bank, said a new trial would need to take place at the Paris appeals court to determine a new fine, if any. UBS's shares, which were already up on the day, spiked as much as 3% more after news broke that the 1.8 billion-euro fine was struck down. The decision by the Cour de Cassation, France's highest judicial court, means the guilty verdict on UBS is final. France's top court reviewed whether the Paris appeals court ruling had complied with the law, not the facts that underpinned its decision.

---

Persons: Denis Balibouse, UBS's, " Keefe, Woods, Tassilo Hummel, Mathieu Rosemain, Stefania Spezzati, Silvia Aloisi, Mark Potter Organizations: UBS, Credit Suisse, Swiss, REUTERS, of, Cassation, Thomson Locations: Zurich Switzerland, Paris, PARIS, Cour, Swiss, France, United States, Mozambique