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Finma Says Credit Suisse Won’t Face New Measures in Switzerland

May 20 (Bloomberg) -- Swiss regulator Finma says Credit Suisse violated its duty to identify, limit, monitor risks involved in U.S. client business. Finma also says: * Corrective measures ordered by FINMA have been implemented by Credit Suisse * Assessment was based on Swiss supervisory law, “which sets out that a bank must at all times assure proper business conduct and have an adequate organization, in particular with regard to risk management” * Finma’s proceedings have been concluded * Finma comments in summary report on enforcement proceedings it conducted against Credit Suisse between 2011 and 2012 * NOTE: Credit Suisse Pleads Guilty in Three-Year U.S. Tax Probe

To contact the reporter on this story: Paul Verschuur in Zurich at

To contact the editor responsible for this story: Mariajose Vera at

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