The Globe and Mail reports in its Friday edition that UBS is working on possible scenarios including shifting its headquarters, or a merger with another bank, if Switzerland introduces new banking rules it deems excessively strict. A Reuters dispatch to The Globe says Switzerland is crafting new regulation for banks in response to the 2023 collapse of Credit Suisse, and a lower house committee will later this month begin debating rules passed in September by the upper house that UBS hinted were intolerable. A group inside the bank is considering the various options, which include drawing up a list of smaller banks in the United States that UBS could potentially buy, and the prospect of the bank being taken over itself, according to unnamed sources. There are no active talks under way. UBS, which is closely following how events play out in Parliament, said officially and on the record, "We don't comment on speculation or views expressed on such matters." Earlier this year, UBS obtained a U.S. banking licence and is eager to expand its business in the United States. The rules drafted by the Swiss government are partly designed to reduce the risk taxpayers could face if the bank suffered losses in the United States.