Recently, the UK’s Financial Conduct Authority (FCA) placed Credit Suisse on a watchlist of institutions requiring stricter supervision.
The FCA took this action after informing the bank last month that it was concerned that the bank had not taken the necessary measures to enhance its culture, governance, and risk controls. Credit Suisse was asked to tackle “persistent” cultural issues and complete a review in the second half of the year on the effectiveness of its international’s board, risk, and audit committees.
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