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Credit Suisse to Pay $90M Penalty for Bad NNA Numbers

October 12, 2016 by Louis Chunovic

The SEC reports that Zurich-headquartered Credit Suisse AG has “agreed to pay a $90 million penalty and admit wrongdoing to settle charges that it misrepresented how it determined a key performance metric of its wealth management business.” While Credit Suisse was asserting in public filings that the “ ‘classification of assets under management is individually… Read More >>

Filed Under: Securities Operations, Buy-Side, Performance Measurement, AML/Fraud/Financial Crime, Regulation & Compliance Tagged With: Credit Suisse, fines, net new assets (NNA), performance reporting, SEC

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