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Violation Tracker UK Individual Case

Company: Credit Suisse International and Credit Suisse Securities (Europe) Ltd
Current Parent CompanyUBS
Parent at the Time of the Penalty Announcement: UBS
Penalty: £87,082,000
Year: 2023
Date: 24 July, 2023
Offence Group: financial offences
Offence Type: internal controls deficiency
Violation Description: Credit Suisse was fined £87 million in a finding by an investigation involving the PRA of significant failures in risk management and governance in connection with the firms' exposure (by providing prime brokerage services and equity total return swaps) to Archegos Capital Management, which defaulted in 2021 with approximately $5.1 billion of losses.
Agency: Prudential Regulation Authority
HQ Country of Parent: Switzerland
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Source of Data(click here)