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.
Swiss central banker wants to boost equity to head off risks
This content was published on
Equity levels at the Swiss National Bank (SNB) are much too low for the risks its large balance sheet poses, according to Martin Schlegel.
Beer sales in Switzerland watered down by bad weather
This content was published on
The past brewing year fell through in Switzerland, partly due to the bad weather. Beer sales shrank again. For the first time, per capita consumption fell below the 50 liter mark.
Compensation for Syrian after pregnant wife denied help on Swiss train
This content was published on
Switzerland’s Federal Court has partially upheld the appeal of a Syrian family being deported from Switzerland to Italy in 2014. The man now also receives compensation.
Swiss-EU negotiations: Cassis to meet Sefcovic in Bern
This content was published on
Swiss Foreign Minister Ignazio Cassis will meet the Vice-President of the EU Commission, Maros Sefcovic, in Bern on Wednesday.
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.