Three entities of Swiss bank Credit Suisse agreed to pay more than $10 million combined as part of a settlement with the Securities and Exchange Commission (SEC) for allegedly providing prohibited underwriting and advising services to mutual funds.
Credit Suisse Securities was assessed a civil penalty of $1 million, while two of its asset management affiliates were separately fined $2 million and $300,000. The asset managers also agreed to pay nearly $6.8 million in disgorgement and prejudgment interest, the SEC announced in a press release Wednesday.
