Singapore’s regulator, the Monetary Authority of Singapore (MAS), has fined Credit Suisse S$3.9 million ($3 million) for its failure to prevent or detect misconduct by its relationship managers in the city-state.
According to MAS, the bankers provided clients with inaccurate or incomplete post-trade disclosures, resulting in customers being charged spreads that exceeded agreed rates for 39 over-the-counter bond transactions.
MAS conducted a review of pricing and disclosure practices in the private banking industry,
Continue with Facebook Continue with Google