MAS fines Credit Suisse S$3.9 million over misconduct

Relationship managers made false statements to clients over bond trades, says regulator

Monetary Authority of Singapore
The Monetary Authority of Singapore
George Johnson

The Monetary Authority of Singapore has imposed a S$3.9 million (US$2.94 million) fine on Credit Suisse for failing to prevent or detect misconduct in over-the-counter bond trading. 

Credit Suisse’s Singapore-based relationship managers had provided their clients with “inaccurate or incomplete post-trade disclosures”, the central bank said in a statement on December 28. The MAS said the relationship managers had broken securities law by making false statements to their clients over the prices of

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