Credit Suisse Securities has been fined $9 million by US’ Financial Industry Regulatory Authority (FINRA) for failing to comply with securities laws and rules designed to protect investors.
This included the Securities and Exchange Commission (SEC)’s Customer Protection Rule as well as FINRA rules which require firms to disclose potential conflicts of interest when issuing research reports.
To fulfill the settlement, Credit Suisse has been asked by FINRA to confirm that it has implemented supervisory system and procedures which will allow it to comply with the Customer Protection Rule and other requirements.
Author: Wesley Bray
FINRA News and Information compiled by Costello Law Group. See source for full story.