Credit Suisse to pay $196M to settle SEC charges
Credit Suisse Group AG will pay $196 million to settle charges that it violated federal securities law by providing cross-border financial services for U.S. clients without registering with regulators.
The Securities and Exchange Commission says the Swiss bank provided these services to thousands of clients over a seven-year period.
The SEC said that while Credit Suisse knew it was violating securities law with the disputed services, it took the bank until 2013 to exit the business completely.
Credit Suisse agreed to the payment and acknowledged wrongdoing to settle the charges.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- UPMC offering buyouts to 3,500 of older workers in cost-cutting move
- Greek debt fears, surge in dollar nip at stock market
- Tesla home battery at $7K, partnered with rooftop solar system, may help reduce power bills
- Consistency keeps Cellone’s Bakery customers coming back
- Citizens Bank executive kept busy by spinoff
- Pittsburgh gasoline prices nearing $3
- Beaver Valley nuclear reactor returns to service
- With higher student debt than ever, millennials rely on support from parents
- Home sales slipped in April on tight supply, high prices
- Cuba’s dairy industry, once touted as a success, is struggling
- Murray Energy expects to lay off as many as 1,800 more