Defendant Name: Credit Suisse Group AG

Defendant Type: Public Company
SIC Code: 6029
CUSIP: 22540110

Initial Case Details

Legal Case Name In the Matter of Credit Suisse Group AG
First Document Date 05-Jul-2018
Initial Filing Format Administrative Action
File Number 3-18571
Allegation Type Foreign Corrupt Practices Act
AAER 3948

Violations Alleged

Exchange Act
Sec 13(b)(2)(B)
Sec 30A


First Resolution Date 05-Jul-2018
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-83593 05-Jul-2018 Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing a Cease-and-Desist Order
On July 5, 2018, the SEC issued an order against Credit Suisse Group AG, stating: "This matter concerns violations of the anti-bribery and internal accounting controls provisions of the Foreign Corrupt Practices Act ("FCPA") by Credit Suisse. Between at least 2007 and 2013, Credit Suisse provided valuable employment to the relatives and friends of certain government officials in the Asia-Pacific region ("APAC") as a personal benefit to the requesting officials in order to obtain or retain investment banking business or other benefits for the bank."
2018-128 05-Jul-2018 Press Release--Administrative Proceeding
SEC Charges Credit Suisse With FCPA Violations
"According to the SEC's order, several senior Credit Suisse managers in the Asia-Pacific region sought to win business by hiring and promoting individuals connected to government officials as part of a quid pro quo arrangement. While the practice of hiring client referrals bypassed the firm's normal hiring process, employees in other Credit Suisse subsidiaries and affiliates were aware of it and in some instances approved these "relationship hires" or "referral hires." The SEC's order found that in a six-year period, Credit Suisse offered to hire more than 100 individuals referred by or connected to foreign government officials, resulting in millions of dollars of business revenue."