- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-06-26T19:29:00
Credit Suisse Securities agreed to pay $900,000 to settle charges levied by the Financial Industry Regulatory Authority (FINRA) regarding reporting and supervision lapses.
The U.S.-based, broker-dealer subsidiary of Credit Suisse also agreed to be censured as part of the settlement, FINRA announced in a consent order published Friday.
From November 2015 through at least March, Credit Suisse violated FINRA rules related to the reporting of transactions to the Trade Reporting and Compliance Engine (TRACE), which applies to over-the-counter transactions in eligible fixed income securities.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
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 for allegedly providing prohibited underwriting and advising services to mutual funds.
UBS announced Christian Bluhm will remain in his role as group chief risk officer “for the foreseeable future” as the Swiss bank grapples with integrating Credit Suisse into its business.
Poor risk management by Credit Suisse’s asset management company kept the bank mostly unaware of the risky nature of lending procedures used by Lex Greensill that would lead to the collapse of Greensill Capital, according to Switzerland’s Financial Market Supervisory Authority.
A cannabis company agreed to pay $225,000 to settle allegations that funds were temporarily deposited into its year-end accounts for the sole purpose of inflating year-end cash, the Securities and Exchange Commission said.
Vince McMahon, the founder and former CEO of WWE, was fined $400,000 and ordered to reimburse the wrestling giant more than $1.3 million to settle charges brought by the Securities and Exchange Commission that he failed to disclose hush money payments he made on behalf of himself and the company.
Experian, the credit reporting giant, let compliance slide when it came to addressing consumer complaints about incorrect data, the Consumer Financial Protection Bureau said in a lawsuit against the credit agency.
