From Wall Street Journal:

Singapore’s Monetary Authority has levied a fine of 3.9 million Singapore dollars (US$3.0 million) on Credit Suisse for failing to prevent or detect misconduct by its relationship managers. The penalty was imposed as Credit Suisse bankers in Singapore provided customers with inaccurate or incomplete post-trade disclosures, resulting in clients being charged spreads above bilaterally agreed rates for 39 over-the-counter bond transactions.

Overall, the news highlights the failure of Credit Suisse in preventing or detecting misconduct by its relationship managers in Singapore, leading to a penalty of 3.9 million Singapore dollars (US$3.0 million). The inaccurate or incomplete post-trade disclosures provided by Credit Suisse bankers resulted in clients being charged spreads above bilaterally agreed rates for 39 over-the-counter bond transactions.



Read more: Singapore Fines Credit Suisse for Bankers’ Misconduct