Defendant Name: Credit Suisse Securities (USA) LLC

Defendant Type: Subsidiary of Public Company

Document Reference: 2023-249

Document Details

Legal Case Name In the Matter of Credit Suisse Securities (USA) LLC; Credit Suisse Asset Management, LLC; and Credit Suisse Asset Management Limited
Document Name Credit Suisse Entities to Pay $10 Million for Providing Prohibited Mutual Fund Services - New Jersey Court Order Caused Disqualification of Certain Credit Suisse Entities
Document Date 13-Dec-2023
Document Format Administrative Proceeding
File Number 3-21811
Allegation Type Investment Advisers/Investment Companies
Document Summary On December 13, 2023, the SEC "announced that Credit Suisse Securities (USA) LLC and two affiliated Credit Suisse entities (collectively, the Credit Suisse Entities)agreed to pay more than $10 million to settle the SEC’s charges that they provided prohibited underwriting and advising services to mutual funds."

Disgorgement & Penalty Information

Resolutions
None Specified

Related Documents:

34-99158 13-Dec-2023 Administrative Proceeding
Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Section 203(e) of the Investment Advisers Act of 1940, and Sections 9(b) and 9(f) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order
On December 13, 2023, the SEC instituted settled administrative and cease-and-desist proceedings against Credit Suisse Securities (USA) LLC; Credit Suisse Asset Management, LLC; and Credit Suisse Asset Management Limited, stating: "From October 24, 2022 to June 7, 2023 (“Relevant Period”), Respondents unlawfully served or acted as an investment adviser or principal underwriter to registered investment companies and/or employees’ securities companies (“ESCs”). A New Jersey state court order issued on October 24, 2022 caused Respondents to be deemed ineligible to provide services to registered investment companies and ESCs under Section 9(a) of the Investment Company Act. During the Relevant Period, Respondents acted as an investment adviser or principal underwriter to registered investment companies or ESCs in violation of the ineligibility provisions of the Investment Company Act."