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.

Daily Photo Galleries

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. Facebook lures premium content from YouTube
  2. U.S. calls Fiat Chrysler recall record dismal
  3. Critics find hotels’ hidden fees to be inhospitable
  4. 2Q mutual fund review: Momentum stalls
  5. U.S. employers add 223K jobs, jobless rate falls to 5.3%
  6. Stocks end tumultuous week on down note
  7. Obama overtime proposal slammed
  8. Big Heart Pet Brands to leave Pittsburgh, affecting 225 jobs
  9. Gulf states reach $18.7B settlement with BP over oil spill
  10. Kraft shareholders approve merger with Heinz
  11. H-D Advanced Manufacturing in Franklin Park buys aerospace components maker Firstmark