The Swiss Financial Market Supervisory Authority FINMA says it will have an independent auditor investigate Swiss bank Credit Suisse “in the context of observation activities”.
“FINMA’s ongoing investigations of this matter will now be stepped up with the help of an independent auditor. This investigator will clarify the relevant corporate governance questions, particularly in relation to the observation activities, the handling of information in this context and the use of electronic communications.”
FINMA said that it would provide further information once its investigation had been concluded and that the probe could take several months.
Credit Suisse was rocked by a highly damaging spygate case earlier this year involving the surveillance of former wealth management boss Iqbal Khan. Earlier this week the NZZ newspaper pointed to a further surveillance claim, which CS said it would investigate both internally and independently.
More
More
Paper reports new surveillance case involving Credit Suisse executive
This content was published on
A senior Credit Suisse human resources executive was tailed by private investigators in February, the NZZ newspaper reported on Tuesday.
Should Switzerland take measures to support its struggling industries?
Industrial policies are back in fashion, not only in the United States but also in the EU. Should Switzerland, where various industries are struggling, draw inspiration from such policies?
Milei orders Argentina’s withdrawal from the World Health Organization
This content was published on
Argentina’s president, Javier Milei, has announced plans to pull the country out of the Geneva-headquartered World Health Organization (WHO).
‘Europe’ initiative halts signature collection to focus on Swiss-EU treaty
This content was published on
The initiative sought to embed Swiss-EU relations in the Federal Constitution, but the organisers have now stopped signature collection.
Swiss study sheds light on link between obesity and metabolic diseases
This content was published on
ETH Zurich researchers collected cells from overweight individuals to identify biological markers that raise the risk of metabolic diseases.
Swiss retail sector sees slight decline despite strong online sales
This content was published on
Black Friday, which performed well in some areas of Switzerland, and Christmas sales could not make up for the losses of previous months.
Over 6,000 Swiss companies go bankrupt but start-ups see growth
This content was published on
Switzerland recorded a spike in bankruptcies last year, but there was also a rise in new start-ups. Trends varied significantly by region and sector.
Basel greenlights funding for Eurovision Village 2025
This content was published on
MCH Group Ltd. is set to receive CHF1 million ($1.1 million) for the Eurovision Village at the Eurovision Song Contest 2025 in Basel.
Geneva researchers discover potential for targeted cancer drug delivery
This content was published on
Researchers in Geneva have discovered how some bacteria inject dangerous enzymes into cells, potentially enabling targeted drug delivery to cancer cells.
Macron denies involvement in Nestlé Waters scandal
This content was published on
French President Emmanuel Macron denied any “agreement” or “collusion” with the Swiss company Nestlé over the bottled water scandal on Tuesday.
This content was published on
The bank doubled profits for the period to CHF881 million ($886 million) compared to Q3 2018. Its International Wealth Management division, which used to be run by Iqbal Khan who was at the centre of the spygate row, saw pre-tax income rise 43% to CHF539 million. Wealth management returns were, however, boosted by the recent…
Credit Suisse to charge wealthy clients negative interest rates
This content was published on
From November 15, corporate clients will be charged -0.85% interest on cash holdings above CHF10 million ($10 million), Credit Suisse confirmed on Friday. Individuals will face -0.75% rates on savings accounts above CHF2 million, starting from January 1, 2020. “In line with the approach that has long been followed by other banks, Credit Suisse is…
This content was published on
What should have been a mere embarrassment for Switzerland’s second-largest bank has ended up as something far more significant.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.