FNG - FX News Group

Credit Suisse fined $7,125,000 by FINRA for supervisory failures. Credit Suisse Securities (USA) LLC has been fined $7,125,000 by the Financial Industry Regulatory Authority (FINRA) for failing to establish and maintain adequate supervisory systems from August 2012 through September 2020. These failures led to hundreds of millions of trade, order, and position records being omitted from its surveillance systems, resulting in undetected instances of potential insider trading and manipulative activities. Credit Suisse violated NASD Rules 3010(a) and (b), and FINRA Rules 3110(a) and (b) and 2010. Out of the total fine, $445,312.50 must be paid to FINRA.