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Violation Tracker Individual Record

Company: Credit Suisse AG
Current Parent CompanyCredit Suisse
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $135,000,000
Year: 2017
Date: November 13, 2017
Offense Group: competition-related offenses
Primary Offense: foreign exchange market manipulation
Violation Description: Credit Suisse AG agreed to pay a $135 million fine as part of a consent order with the New York State Department of Financial Services for violations of New York banking law, including improper efforts with other global banks, front-running client orders, and additional unlawful conduct that disadvantaged customers. The violations stemmed from an investigation by DFS determining that from at least 2008 to 2015, Credit Suisse consistently engaged in unlawful, unsafe and unsound conduct by failing to implement effective controls over its foreign exchange business.
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)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.