Violation Tracker Individual Record

Company: 
Credit Suisse (Hong Kong) Limited
Current Parent Company: 
Credit Suisse
Penalty: 
$47,029,916
Year: 
2018
Date: 
July 5, 2018
Primary Offense: 
Foreign Corrupt Practices Act
Violation Description: 

Credit Suisse (Hong Kong) Limited, a Hong Kong-based subsidiary of Credit Suisse Group AG, a Swiss-based issuer of publicly traded securities in the United States, reached a resolution with the Department of Justice and agreed to pay a $47 million criminal penalty for its role in a scheme to corruptly win banking business by awarding employment to friends and family of Chinese officials.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Justice Department Criminal Division
Civil or Criminal Case: 
criminal
Prosecution Agreement: 
non-prosecution agreement
HQ Country of Parent: 
Switzerland
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking & securities
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.