UK Financial Regulator Puts Credit Suisse on Watchlist, FT Says

The UK’s financial regulator told Credit Suisse Group AG last month it was adding the bank to a watchlist after a series of scandals, according to the Financial Times.

The Financial Conduct Authority notified Credit Suisse in mid-May of the move, citing concern over its risk controls, governance and culture, according to a letter seen by the FT. Officials asked the firm’s top management to offer evidence of the steps it would take to make improvements going forward, the newspaper said.

It’s yet another sign that the Swiss bank’s recent scandals are having long-term consequences. Over the past two years, ...