Credit Suisse ‘seriously breached its supervisory obligations’ in connection with its business relationship with financier Lex Greensill and his companies, Swiss financial watchdog FINMA concluded
The bank's 600 most senior managers must also have their areas of responsibility recorded in a document of responsibility and must be sanctioned by the bank "if they do not organise and manage their business area in such a way that misconduct is prevented as far as possible," FINMA said.
The regulator said it has opened four enforcement proceedings against former managers at the lender. They face a possible ban from the profession of up to 5 years."FINMA’s review has reinforced many of the findings of the Board-initiated independent review and underlines the importance of the actions we have taken in recent years to strengthen our Risk and Compliance culture," he said in a statement.
So far 74% of the fund's $10 billion net asset value at the time of its suspension has been collected. Reporting by Kirsti Knolle and Noele Illien, Editing by Louise Heavens Editing by Paul Carrel and Louise Heavens
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Credit Suisse 'seriously breached' obligations in Greensill case, Swiss regulator saysCredit Suisse 'seriously breached its supervisory obligations' in the context of its business relationship with financier Lex Greensill and his companies, Swiss regulator FINMA concluded Tuesday.
Weiterlesen »
USD/CHF stays depressed around mid-0.9300s ahead of Swiss GDPUSD/CHF portrays the pre-data anxiety while making rounds to 0.9350 during early Tuesday. Even so, the cautious optimism in the market, as well as the
Weiterlesen »
Swiss regulator investigates 12 banks in Lebanese central banker corruption caseSwitzerland's financial regulator has investigated 12 banks and launched enforcement proceedings against two of them in relation to corruption charges against longtime central banker Riad Salameh, it said on Monday.
Weiterlesen »
Police seek Good Samaritan-turned-bad who stole elderly woman's credit cardWhen an 85-year-old woman got her car stuck last December, she was so grateful when a man offered to move her car out of her driveway. 10 days later, she realized her credit card was missing. FOX13
Weiterlesen »
Police credit training, compliance for peaceful resolution of call to man waving gun in Richmond Hts.Richmond Heights police were called to a business Saturday for a man outside with a gun and a knife. Police credit training and the man's compliance for a peaceful end to a stressful situation.
Weiterlesen »
Missing SF radio host hasn't used phone, credit cardsRadio host Jeffrey 'JV' Vandergrift, whom the SFPD considers at risk, hasn't used his phone or credit cards since he was reported missing last week.
Weiterlesen »