Defendant Name:
Credit Suisse AG
Defendant Type:
Subsidiary of Public Company
Public Company Parent:
Credit Suisse Group AG
SIC Code:
6211
CUSIP:
22540110
Document Reference:
33-10229
Document Details
Legal Case Name
In the Matter of Credit Suisse AG
Document Name
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
Document Date
05-Oct-2016
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
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."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Remedial Sanctions
Cooperation Before the Resolution
Remedial Acts or Efforts Before the Resolution
Monetary Penalties:
Civil Penalty
Individual:
$90,000,000.00
Shared:
