The Trader 

Market Outlook: Credit Suisse fails its duties

The Trader

This morning Reuters reports that Swiss regulator FINMA has decided that Zurich-based banking giant Credit Suisse will be overseen by an independent monitor because it has failed to combat corruption.  Cases linked to football’s FIFA, Brazil’s Petrobras and Venezuela’s state oil company were cited.  They also noted that the bank fell short in the fight against money laundering and not only carried out a significant business relationship with ‘a politically exposed person’ but, instead of disciplining the relationship manager for repeatedly breaching compliance regulations for years, it rewarded him with high payments and positive reviews.

To continue reading, register today

to enjoy limited access to the following:

  • Daily trading news
  • Funds coverage
  • Features on big investment themes
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now