Defendant Name: Credit Suisse AG

Defendant Type: Subsidiary of Public Company
Public Company Parent: Credit Suisse Group AG
SIC Code: 6211
CUSIP: 22540110

Initial Case Details

Legal Case Name In the Matter of Credit Suisse AG
First Document Date 05-Oct-2016
Initial Filing Format Administrative Action
File Number 3-17617
Allegation Type Issuer Reporting and Disclosure

Violations Alleged

Exchange Act
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Sec 13(b)(2)(A)
Securities Act
• Sec 17(a)(2)
• Sec 17(a)(3)
Other
• Rule 13a-16 Exchange Act

Resolutions

First Resolution Date 05-Oct-2016
Headline Total Penalty and Disgorgement $90,000,000

Related Documents:

2016-210 05-Oct-2016 Press Release--Administrative Proceeding
Credit Suisse Paying $90 Million Penalty for Misrepresenting Performance Metric
On October 5, 2016, the SEC issued a press release announcing: "that Credit Suisse AG has agreed to pay a $90 million penalty and admit wrongdoing to settle charges that it misrepresented how it determined a key performance metric of its wealth management business."
33-10229 05-Oct-2016 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 Remedial Sanctions
On October 5, 2016, the SEC filed a settled administrative proceeding against Credit Suisse AG. According to the SEC: "From at least the fourth quarter of 2011 through the fourth quarter of 2012, Credit Suisse in certain instances improperly applied its process for recognizing net new assets (“NNA”) for the wealth management business within its private bank division (“Private Bank”) in a way that was inconsistent with its disclosures. As a result, Credit Suisse’s NNA disclosures were materially misleading."

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