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UK FSA and NYSE Fine Credit Suisse £5.6m for Failures in Supervision

At 14 Aug 2008 08:48:19 in MM-Regulators, MiFIDMonitor.com    Print Article  Email Article   Full content requires subscription 

The Financial Services Authority (FSA) has fined the UK operations of Credit Suisse a total of £5.6 million for failing to adequately supervise traders in its investment banking division who deliberately mispriced the asset backed securities they held. The New York Stock Exchange (NYSE) has also issued the US division of the bank, Credit Suisse Securities, with a US$350,000 (£187,400) penalty as a result of technical mishap that caused the bank to trade ahead of clients’ orders in breach of stock market rules.



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