Banking Law News

Credit Suisse Blocks Prosecutor Using Critical Finma Report (1)

Dec. 5, 2019, 12:10 PM

Credit Suisse Group AG has acted to block Geneva prosecutors from using details of a critical report by the country’s financial regulator into the bank’s failure to prevent fraud at its wealth management unit.

The bank asked Geneva prosecutor Yves Bertossa to seal the report, which he is legally required to do after a request, a spokesman for the prosecutor’s office said. Bertossa has now asked a court to lift the order in a bid to get access to the documents as part of an ongoing investigation into Patrice Lescaudron, the spokesman said.

Credit Suisse, which is a party...

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