Federal prosecutors in Manhattan have sent information requests to several banks that dealt with Archegos, Bloomberg reported.
Some banks are drafting "letters of demand" to the firm requesting repayment before filing legal claims, according to the Financial Times.
Weber in an interview Wednesday blamed a lack of oversight of family offices, which don't have to disclose the same amount of information as hedge funds.
"We are projecting out economic growth in the UK north of 6%. It should be the strongest year of economic growth in the UK since 1948," Staley said.
"We are all clearly disappointed and are taking this very seriously," the chief executive of UBS said of the Archegos loss.
Wall Street profited massively from a volatile three months, with red-hot results at banks and the best first quarter for hedge funds since 2006.
The Swiss lender expects to incur related-losses of another $654 million in the second-quarter this year, and said it would raise about $2 billion.
Two Credit Suisse executives will leave after the Swiss lender took a massive loss tied to the collapse of Archegos Capital, the WSJ reported.
While Morgan Stanley took a big hit from Archegos, its loss pales in comparison to Nomura and Credit Suisse, which lost multiple billions.
The lender isn't yet done unloading stocks linked to Archegos, even though it's already taken a $4.7 billion charge from the hedge fund's collapse.
Nomura is limiting margin financing exceptions for some of its hedge fund clients after taking a $2 billion hit from Bill Hwang's Archegos collapse.
Credit Suisse and Nomura Holdings are the most affected but the Archegos fiasco affects the industry overall.
Credit Suisse is tightening its financing terms given to hedge funds and family offices and changing its margin requirements to dynamic from fixed.
The head of the Senate banking committee is calling on lenders for answers about the blow-up of private investment firm Archegos Capital.
Morgan Stanley sold about $5 billion in shares from Archegos' doomed bets just before a massive fire sale a day later, according to a CNBC report.
"I think there are a lot of players that have taken too much leverage, too much risk, and some of them are going to blow up," Roubini said.
The volatility kicked off after Credit Suisse initiated a block trade worth $2.3 billion in an attempt to curtail further losses.