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City of London

Credit Suisse Added to UK Regulator’s Watchlist on Risk Concerns

  • Units put on the list last month over culture, governance
  • Swiss lender issued a second-quarter profit warning last week
Photographer: Stefan Wermuth/Bloomberg

The UK’s financial regulator has added Credit Suisse Group AG to a watchlist over concerns that it hasn’t sufficiently addressed risky culture as the lender struggles to draw a line under a series of scandals and turbulence. 

The Financial Conduct Authority told Credit Suisse last month it was adding the bank’s UK operations and international unit to a list of firms warranting close monitoring after a series of scandals, according to a person with knowledge of the matter. The regulator cited concern over its risk controls, governance and culture.