Credit Suisse entities to pay $10 million over prohibited mutual fund services

This post was originally published on this site

In 2022, a New Jersey court banned the Credit Suisse entities from certain activities in resolving a case of alleged violations of state laws. The firms continued to offer the services despite the ban until June 2023, the SEC said.

Without admitting or denying the SEC’s findings, Credit Suisse agreed to pay civil penalties of $3.3 million and more than $6.7 million in disgorgement and interest.

A spokesperson for UBS, which acquired Credit Suisse this year, said in an emailed statement: “Following the identification and notification of this matter to the SEC, this settlement marks another important step in our efforts to proactively resolve Credit Suisse litigation and legacy matters.”