Defendant Name:
Credit Suisse Group AG
Defendant Type:
Public Company
SIC Code:
6719
CUSIP:
22540110
Initial Case Details
Legal Case Name
In the Matter of Credit Suisse Group AG
First Document Date
19-Oct-2021
Initial Filing Format
Administrative Action
File Number
3-20629
Allegation Type
Foreign Corrupt Practices Act
Resolutions
First Resolution Date
19-Oct-2021
Headline Total Penalty and Disgorgement
See Related Documents
Related Documents:
2021-213
19-Oct-2021
Press Release--Administrative Proceeding
Credit Suisse to Pay Nearly $475 Million to U.S.
and U.K. Authorities to Resolve Charges in
Connection with Mozambican Bond Offerings
The SEC stated: "Credit Suisse Group AG has agreed to pay nearly $475 million to U.S. and U.K
authorities, including nearly $100 million to the Securities and Exchange Commission, for fraudulently misleading
investors and violating the Foreign Corrupt Practices Act (FCPA) in a scheme involving two bond offerings and a
syndicated loan that raised funds on behalf of state-owned entities in Mozambique."
33-11001
19-Oct-2021
Administrative Proceeding
Order Instituting Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933 and Section 21C of the Securities Exchange Act of 1934, Making Findings, and Imposing and Cease-and-Desist Order
On October 19, 2021, the SEC instituted settled cease-and-desist proceedings against Credit Suisse Group AG stating: "This matter concerns an offering fraud and violations of the internal accounting
controls and books and records provisions of the Foreign Corrupt Practices Act by Credit Suisse,
from 2013 to 2016, in connection with three interconnected transactions involving, among others,
United Kingdom-based Credit Suisse entities and Mozambican state-owned entities."
Order Creating Fair Fund and Setting Deadline to Submit Proposed Plan of Distribution
The Commission order that: "A) the Credit Suisse Fair Fund is created pursuant to Section 308(a) of the Sarbanes- Oxley Act of 2002 for the disgorgement, prejudgment interest, and civil money penalties collected from Credit Suisse and VTB Capital for distribution to harmed investors; B) the $2,429,883.94 collected from VTB Capital, consisting of disgorgement and prejudgment interest, and any interest that has accrued thereon, will be recalled from the U.S. Department of the Treasury and added to the Credit Suisse Fair Fund for distribution to harmed investors; and C) the due date by which the Division will submit a Proposed Plan for the Credit Suisse Fair Fund."
34-102911
22-Apr-2025
Administrative Proceeding
Order Appointing Tax Administrator
The Commission stated: On December 19, 2024, the Commission issued an Omnibus Order Extending the Engagement of Two Tax Administrators for Appointment on a Case-By-Case Basis in Administrative Proceedings that Establish Distribution Funds (the "Omnibus Order"). The Omnibus Order engaged Miller Kaplan Arase LLP and Heffler, Radetich & Saitta, LLP to serve as the Commission's tax administrator ("Tax Administrator"), for selection and appointment on an individual case basis, for the calendar year 2025 in administrative proceedings where the distribution fund may incur tax-related obligations as a Qualified Settlement Fund ("QSF") under the Department of the Treasury Regulation § 1.468B-1(c).
