Credit Suisse Group said it has been responding to requests from “certain governmental and regulatory authorities” concerning potential violation of the Foreign Corrupt Practices Act regarding its hiring practices in the Asia Pacific region.
In an earnings release, the company said that the Department of Justice and Securities and Exchange Commission are among the agencies investigating it. Specifically, the agencies are investigating “whether Credit Suisse hired referrals from government agencies and other state-owned entities in exchange for investment banking business and/or regulatory approvals Credit Suisse said it’s cooperating with the authorities on this matter.”
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