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Credit Suisse Securities to Pay $4.25M for ‘Blue Sheet’ Compliance Lapses

Jaclyn Jaeger | September 29, 2015

Credit Suisse Securities yesterday reached a $4.25 million settlement with the Securities and Exchange Commission for submitting deficient information to the agency over a two-year period about trades done by its customers, commonly referred to as “blue sheet data.”

As part of the settlement, Credit Suisse admitted that it violated the recordkeeping and reporting provisions of the federal securities laws. It also agreed to be censured and to cease and desist future violations of the books and records provisions of the federal securities laws.

According to the SEC’s order instituting settled administrative proceedings, broker-dealers like Credit Suisse have a fundamental obligation to provide “complete and accurate blue sheet data” when requested by the SEC, so that the agency can use it to identify and analyze trades in the course of...

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