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Credit Suisse is reportedly facing fines in Japan after the nation’s securities watchdog, the Securities and Exchange Surveillance Commission (SESC), found that it had allegedly leaked private information about a company.
SESC, which carries out inspections on behalf of the Financial Services Agency (FSA) and has the power to make recommendations for actions by the agency, has recommended that the FSA penalises Credit Suisse’s Japanese brokerage unit for violations of the country’s financial instruments and exchange laws. The type of action SESC is seeking has not yet been specified.
SESC’s recommendation follows information received relating to an analyst at the Swiss bank who is ... (read more)