Printer Friendly

Credit Suisse criticised for dealing with 1MDB.

Global Banking News-May 30, 2017--Credit Suisse criticised for dealing with 1MDB

(C)2017 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 30 May 2017

The Swiss financial watchdog has reprimanded Credit Suisse (NYSE: CS) for its dealings with 1MDB, the Malaysian state fund mired in a money laundering controversy.

The watchdog, FINMA, officially reprimanded Credit Suisse after the firm drew criticism from various quarters for its involvement with the Malaysian fund.

FINMA said, 'During the investigations, it was not established that the bank had committed any systematic breaches of supervisory law. FINMA did, however, send the bank a written reprimand for shortcomings in its money-laundering processes.'

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))

COPYRIGHT 2017 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:May 30, 2017
Words:128
Previous Article:Slovak central bank could raise capital buffer.
Next Article:Blue Insurance plans to recruit.
Topics:

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |