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

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

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