Law Daily Report

Swiss regulator: Credit Suisse made 'serious breach' of law

  • 📰 AP
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 51%

Law Law Headlines News

Law Law Latest News,Law Law Headlines

Swiss regulators have found that Credit Suisse made a 'serious breach' of law in connection with a now-bankrupt firm linked to Australian financier Lex Greensill and have opened a probe that could lead to penalties against four former bank managers.

Switzerland’s financial markets authority, FINMA, said Tuesday that it has concluded enforcement proceedings opened two years ago against Credit Suisse after bank

partner Greensill Capital went bankrupt. At the time, Credit Suisse closed four funds linked to the partnership, in which bank clients had invested about $10 billion.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 728. in LAW

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Credit Suisse Breached Law in Greensill Lapses, Regulator SaysCredit Suisse failed in its duties as an asset manager and violated Swiss supervisory law in its operation of $10 billion in investment funds with Greensill Capital Ah yes, the usual '..we'll review our processes, document some stuff...lessons learned..' etc from the usual crooks...and ofcourse they'll wait and do it again in the future. 나는 스위디쉬. 스위스는 스카이다이빙을 할 수 있다. 고로 나는 스다
Source: WSJ - 🏆 98. / 63 Read more »