- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-03-14T19:47:00
Credit Suisse Group, still reeling from significant losses tied to the 2021 collapses of Archegos Capital Management and Greensill Capital, disclosed in its annual report its internal control over financial reporting (ICFR) was “not effective” for the fiscal year ending December 2022.
The Swiss bank made the disclosure Tuesday in its 2022 annual report. The bank’s management came to the conclusion as part of a risk assessment of management practices.
The assessment found the bank “did not design and maintain an effective risk assessment process to identify and analyze the risk of material misstatements in its financial statements.”
2023-10-20T16:28:00Z By Aaron Nicodemus
A Singapore financial regulator will reportedly conduct an on-site inspection of a local Credit Suisse unit in connection with a 2.8 billion Singapore dollar (U.S. $2 billion) money laundering scandal.
2023-03-20T18:14:00Z By Aaron Nicodemus
Credit Suisse will merge with UBS in a move approved by Swiss banking regulators after a proposed cash injection from the Swiss National Bank failed to stabilize Credit Suisse’s rapidly declining finances.
2023-03-17T15:57:00Z By Aaron Nicodemus
Small and mid-sized banks can expect more regulatory scrutiny in the aftermath of the collapses of Silicon Valley Bank and Signature Bank, according to legal experts. The time to prepare is now.
2025-06-26T15:37:00Z By Aaron Nicodemus
Bank examiners at the Federal Reserve Board will no longer assess reputational risk during examinations, a concession to the banking industry already underway with two other U.S. regulators.
2025-05-29T16:07:00Z By Aaron Nicodemus
Corporate governance is, all too often, handed down from generation to generation. Like a well-worn jacket, it works great—until it doesn’t. Typically, it is a crisis that forces companies to reassess their corporate governance framework, as gaps are filled and poor policies rewritten. But it doesn’t have to be that ...
2025-03-10T20:56:00Z By Adrianne Appel
The public reported a 25 percent increase in losses–totaling more than $12.5 billion in 2024–to investment scams, tech rip-offs, and general fraud, according to an analysis by the Federal Trade Commission.
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