Credit Suisse Services AG, et al.; Notice of Application and Temporary Order

Securities and Exchange Commission (“Commission”).

Temporary order and notice of application for a permanent order under section 9(c) of the Investment Company Act of 1940 (“Act”).

Summary of Application: Applicants (defined below) have applied for a temporary order (“Temporary Order”) exempting them from section 9(a) of the Act with respect to a guilty plea entered by Credit Suisse Services AG (the “Pleading Entity” or “CSSAG”) in connection with a plea agreement (the “2025 Plea Agreement”) between the Pleading Entity and the United States Department of Justice (“DOJ”), until the Commission takes final action on an application for a permanent order (the “Permanent Order,” and with the Temporary Order, the “Orders”). Applicants also have applied for a permanent order.

Applicants: CSSAG, UBS Asset Management (Americas) LLC (“UBSAM”), UBS Asset Management (US) Inc. (“UBSAM (US)”), UBS Asset Managers of Puerto Rico (“UBSAM (PR)”), and UBS Financial Services Inc. (“UBSFS”) (each, an “Applicant” and, collectively, the “Applicants”), and UBS AG (“UBS AG”).^[1]

Filing Date: The application was filed and amended on May 5, 2025.

Hearing or Notification of Hearing: The Temporary Order will be effective until such time as the Commission takes final action on the application by issuing an order granting the requested relief, unless the Commission orders a hearing. Interested persons may request a hearing by emailing the Commission's Secretary at [email protected] and serving the Applicants with a copy of the request by email, if an email address is listed for the relevant Applicant below, or personally or by mail, if a physical address is listed for the relevant Applicant below. Hearing requests should be received by the Commission by 5:30 p.m. on May 30, 2025, and should be accompanied by proof of service on the Applicants, in the form of an affidavit, or, for lawyers, a certificate of service. Pursuant to rule 0-5 under the Act, hearing requests should state the nature of the writer's interest, any facts bearing upon the desirability of a hearing on the matter, the reason for the request, and the issues contested. Persons who wish to be notified of a hearing may request notification by emailing the Commission's Secretary.

The Commission: [email protected]. Applicants: Patrick Shilling, UBS AG, 11 Madison Avenue, New York, New York 10010; Norm Champ, P.C. and Mark Filip, P.C., Kirkland & Ellis LLP, 601 Lexington Avenue, New York, New York 10022.