TribLIVE

| Business


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

Credit Suisse to pay $196M to settle SEC charges

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.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Faulty air bags in 30M vehicles
  2. Mini goes mainstream
  3. Bond mutual funds continue to carry their weight
  4. Toyota Yaris adds French flair for ’15
  5. Amazon investors’ patience wears thin
  6. Sell-off reins in complacency
  7. First Niagara sets aside $45 million
  8. Motoring Q&A: ‘Check engine’ light doesn’t reset itself
  9. Stocks rise broadly on earnings; Amazon sinks
  10. Rule to close coal royalty loophole
  11. Open enrollment puts varied impact of health care law back in focus
Subscribe today! Click here for our subscription offers.