RTTNews | Apr 22, 2021 03:13AM EDT

03:12 Thursday, April 22, 2021 (RTTNews.com) - Credit Suisse (CS) said the Swiss Financial Market Supervisory Authority FINMA has opened enforcement proceedings against the company after the bank suffered significant losses in connection with a US hedge fund, Archegos. Also, FINMA opened proceedings against Credit Suisse in the context of the "Greensill" case and the corresponding supply chain finance funds.

Credit Suisse stated that, as a result of the cases, FINMA has ordered various short-term measures to be put in place. These include organisational and risk-reducing measures and capital surcharges as well as reductions in or suspensions of variable remuneration components.

Read the original article on RTTNews ( https://www.rttnews.com/3187113/finma-begins-enforcement-proceedings-against-credit-suisse.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved