The United Kingdom’s Financial Conduct Authority has put Credit Suisse on a watchlist of institutions in need of stricter supervision.
That’s according to reports from the Financial Times late on Sunday, citing a letter sent in May.
The regulator told the Swiss bank last month the step had been taken because of concern the bank had not made enough improvements to its culture, governance and risk controls.
Credit Suisse was fined about $475 million last year by the U.S. Securities and Exchange Commission and FCA, to resolve bribery and fraud charges relating to a $2 billion Mozambican corruption scandal.
The FCA has also asked Credit Suisse’s senior executives to give evidence of steps the bank would take to prevent instances of misconduct and to improve accountability..
Related posts:
Credit Suisse to add 1,200 jobs in Raleigh, North Carolina
FCA closes investigations into firms over fair treatment of life insurance
CBN announces plans to place accounts of chronic loan defaulters on watchlist
UK snap election: Poll puts Tories 19% ahead of Labour
IMF puts global debt at $180tr
UK condemns Iran missile attack, puts military on standby
Lagos Fire Service puts out Aladelola, Ketu Fire
Fintiri puts security agents on red alert, suspends activities of NGOs
