The Swiss Financial Market Supervisory Authority FINMA has initiated enforcement proceedings against Credit Suisse in the context of its observation activities.
Earlier this year FINMA appointed an auditor to investigate Credit Suisse in the context of its observation activities (see press release published on 20 December 2019). The auditor’s investigation has now been completed. 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.
FINMA will inform the public about the conclusion of the enforcement proceedings. It will not comment further on the content of the ongoing proceedings or the date when the proceedings may be concluded. Typically such proceedings can be expected to take several months.
Tobias Lux, Media Spokesperson
Tel. +41 31 327 91 71