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Monday April 11, 09:38
Japanese watchdog bars Credit Suisse unit from new business on law violation
(by Sh.Nakata)

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Japanese watchdog bars Credit Suisse unit from new business on law violation Japanese watchdog temporarily suspended new business of Credit Suisse Trust & Banking Co.’s Japan-based unit on the violation of Japanese law in its activity.

The unit is barred from controling activity over trust assets amid the probe by internal auditors that found numerous violations by the unit’s executives.

Japan’s Financial Services Agency said the bank’s existing clients are not affected by the suspension from accepting new business.
The unit acknowledged the findings by the watchdog and is now working on resolving the problem, the company said.
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