The Swiss Financial Market Supervisory Authority said it welcomed the move by UBS /zigman2/quotes/206172872/composite UBS +0.33% /zigman2/quotes/206994749/delayed CH:UBSG +1.61% and Credit Suisse /zigman2/quotes/202835784/composite CS +1.16% /zigman2/quotes/205269278/delayed CH:CSGN +2.29% to postpone half of their planned dividend distributions for 2019 to the fourth quarter. "FINMA welcomes this significant step, which was taken after FINMA wrote to the boards of directors of both banks asking them to reconsider their dividend plans. FINMA views this precautionary measure taken by both institutions as a way of simultaneously dealing with the major uncertainties associated with the COVID-19 crisis and addressing shareholders' expectations," it said in a statement.
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