Swiss regulator starts enforcement proceedings against Credit Suisse over spying scandal

Finance

The logo of Swiss banking giant Credit Suisse is seen on October 17, 2017 in Zurich.

Fabrice Coffrini | AFP | Getty Images

Swiss watchdog FINMA, the country’s financial market supervisory authority, said Wednesday it had initiated enforcement proceedings against Credit Suisse over the spying affair that came to light last year.

“FINMA has opened enforcement proceedings against the bank, in which it will pursue indications of violations of supervisory law in the context of the bank’s observation and security activities and in particular the question of how these activities were documented and controlled,” the regulator said in statement.

“Typically such proceedings can be expected to take several months,” it added.

Articles You May Like

Lowe’s beats on earnings and hikes guidance, but still expects sales to fall this year
Eli Manning, Derek Jeter, Jimmy Fallon join TGL New York Golf Club investor group
Some market experts are talking about ‘animal spirits.’ Here’s what that means when it comes to investing
The 2025-26 FAFSA is open ahead of schedule — here’s why it’s important to file for college aid early
Budget travel icon Spirit Airlines files for bankruptcy protection after mounting losses

Leave a Reply

Your email address will not be published. Required fields are marked *