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Violation Tracker Individual Record

Company: Credit Suisse AG
Current Parent Company: UBS
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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Penalty: $715,000,000
Year: 2014
Date: May 19, 2014
Offense Group: financial offenses
Primary Offense: tax violations
Mega-Scandal: Assisting Tax Evasion
Violation Description: The Department of Financial Services announced that Credit Suisse would pay $715 million in connection with what was said to be an illegal cross-border banking business that facilitated tax evasion.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
HQ Country of Current Parent: Switzerland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.