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Credit Suisse Outsight Activities: FINMA Starts Enforcement Proceedings

September 4, 2020 |Banking


Credit Suisse Outsight Activities: FINMA Starts Enforcement Proceedings 

The Swiss Financial Market Supervisory Authority FINMA opened law proceedings against Credit Suisse in the context of its observation activities. Previously this year FINMA appointed an auditor to investigate Credit Suisse in the context of its observation activities. The auditor’s work is already finished. The authority has opened law proceedings against the bank, in which it will persecute violations of supervisory law in regard to the bank’s observation and security activities and especially the question of how these activities were documented and controlled.

 FINMA will notify the public of the completion of the trial. It will not comment on the content of the current proceedings or the date on which the proceedings can be concluded. As a rule, such proceedings can take several months.

Source: https://finma.ch/en/news/2020/09/20200902-mm-cs-verfahrenseroeffnung/

Legal disclaimer. This article does not constitute legal advice and does not establish an attorney-client relationship. The article should be used for informational purposes only.
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