Credit Suisse Group (NYSE:CS) is to pay US$135mln to settle an investigation by NY regulators into claims of misconduct in its foreign exchange trading business.
In a statement the bank said: "Credit Suisse does not admit to any findings of fact and the resolution does not involve any fraud-based violations".
The agreement is the latest in a string of global regulatory settlements with big Wall Street banks over forex trading practices.
Apparently, Credit Suisse utilized a range of measures that included chatroom cartels, anti-competitive business practices and software created to automatically swindle the Swiss banks own customers, the "New York Post" wrote in an article on Tuesday.
Rivals including Citigroup Inc, JPMorgan Chase & Co, Barclays PLC, and Royal Bank of Scotland PLC collectively paid $10 billion in 2014 and 2015 to settle probes by USA and European authorities that their forex traders coordinated to cheat clients and boost their own profits.
The fine comes as the latest in a string of clampdowns by U.S. authorities on the Zurich-based bank since investigations began into various malpractices in the wake of the 2008 financial crisis. In late September, the British bank HSBC agreed to pay $175 million to avoid prosecution.
The DFS said Credit Suisse had insufficient oversight and controls over its FX traders, who allegedly discussed trading positions with competitors, using electronic chatrooms.
The probe is still ongoing in relation to other banks, according to a person familiar with the matter.
NY regulators have accused more than a dozen traders and salespeople working for the Switzerland's second-biggest bank of manipulating the $5.3 trillion a day forex market and other illegal activity over the course of eight years, running up to 2015.
As part of an agreement with regulators, the bank will be required to retain an outside expert for one year to review remedial measures taken to protect against the misconduct.
Shares in Vodafone were trading up 5 percent at 1005 GMT, having earlier hit a three month high of 227.50 pence. Vodafone had taken an impairment of 5.0 billion euros on its Indian activities in the first half of 2016.
Rachakonda Police Commissioner Mahesh Bhagwat transferred him to the commissionerate headquarters as departmental punishment. The incident reportedly took place about four-five months ago at the armed reserve headquarters in Jogulamba Gadwal district.
Stonebridge Capital Management Inc decreased Chipotle Mexican Grill Inc Com (CMG) stake by 41.49% reported in 2017Q2 SEC filing. On November 9 Canaccord Genuity kept the stock rating at "Hold" projecting a price of $9.00. 10 of them rate its stock a hold.
Furthermore, it said the data usage is exploding and usage per subscriber ( 1MB for Q2FY18) is 2.7GB per month. Growth was driven by higher smartphone penetration, now at over 38 percent of the total customer base.
In recent months the company has been aggressively scaling up its engineering force in preparation of the acquisition from Geely. However, the company did not disclose any financial details concerning the deal, The China Daily newspaper reported today.
Jesus Christ, I'll make sure Uber knows what an [expletive] joke you are". " You're kidnapping me ", she continued. Platt , who could not be reached for comment, said he was " totally afraid " of being arrested when police arrived.
In this case, red meat consumption was identified as a potential risk factor, although here, the correlation was less striking. Foods to avoid include refined carbohydrates, foods high in added sugars, trans fats, saturated fats and processed meats.
Trump's pronouncements on North Korea during the trip swung from embracing diplomacy to warnings of military intervention. An anonymous USA official told The Washington Post that charges against the three players have been reduced.
Telltale chemical signs of wine were discovered in eight jars, the oldest one dating from about 5,980 BC. The latest finds were published in the journal Proceedings of the National Academy of Sciences (PNAS ).
The area where Felton's body was found is close to where three other murders occurred in Seminole Heights last month. On Oct. 9, victim Benjamin Mitchell, 22, was waiting for a bus on North 15th Street and Frierson Avenue in Tampa.
At 4.30 am ET, the Office for National Statistics is slated to issue United Kingdom consumer and producer prices for October. The euro zone economy grew as expected in the last quarter, according to official data released on Wednesday.
Sun Pharma Q2 profit dives 59%, but beats estimates
Active Pharmaceutical Ingredients (API) business largely meant for captive consumption rose 6 percent to Rs 388 crores. The shares of Sun Pharmaceutical Industries closed today at Rs 526.15 on BSE, down 1.19 per cent from previous close.
Chelsea legend Didier Drogba confirms retirement plans
Drogba joined second-tier Phoenix in 2017, after leaving Montreal Impact following the conclusion of the 2016 MLS season. Chelsea legend Didier Drogba has announced that he will retire from professional football at the end of next season.
Xbox One gamers can now send each other video games digitally
We see that today; we're not manufacturing Xbox 360 and yet there are 360 games that do very well right now on our platform. You can head over to the Black Friday page on Microsoft's website to find out more about the many deals that it's offering.
Connected toys can be hacked by 'almost anyone'
The Bluetooth connections on the toys are unsecured so external devices could be used to manipulate the toys. Spiral Toys, which makes the Toy-Fi Teddy and CloudPets devices, has not yet commented on the report.
More than 15000 scientists issue 'warning to humanity'
The message updates an original warning sent from the Union of Concerned Scientists 25 years ago and backed by 1700 signatures. During their presentation, the team representing the administration was heckled and interrupted by a protest song .
Duke vs. Michigan State live stream
Despite almost putting up triple digits on the scoreboard Friday, the Spartans finished only 3-of-12 from beyond the arc. Michigan State opened the season with a 98-66 win over North Florida behind Bridges' 20 points and 10 rebounds.