TribLIVE

| Business

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Credit Suisse to pay $196M to settle SEC charges

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Associated Press
Saturday, Feb. 22, 2014, 12:01 a.m.
 

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.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Judge rules against PPG in lawsuit over pollution
  2. ‘Cadillac tax’ hangs over insurance costs
  3. Pittsburgh unemployment rate steady as job market shrinks
  4. Idea Foundry CEO Matesic decides which new companies get help from his Pittsburgh business incubator
  5. Steelworkers union says ATI talks to resume
  6. Sniffer lets PixController detect methane gas leaks
  7. ModCloth gets physical
  8. Trib Total Media puts 9 Western Pa. newspapers up for sale
  9. Alpha Natural Resources executive resigns amid restructuring
  10. Gasoline prices down nearly a dime in Pittsburgh area
  11. Steelworkers union says ATI talks to resume