(Photo: Gianluca Colla/Bloomberg)
Credit Suisse Group AG had agreed to pay $4.25 million for submitting deficient information to the U.S. Securities and Exchange Commission for two years about its customers’ trades, the regulator said on Monday.
Credit Suisse Securities (USA) LLC, a subsidiary of the Swiss bank, as part of the settlement admitted it violated record keeping and reporting provisions of federal securities laws, the SEC said.
Under federal law, broker-dealers like Credit Suisse must upon request provide the SEC with “blue sheet data” on customer trading for use in identifying and analyzing trades for investigations and other work.
The original article can be found at www.reuters.com