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NY state regulator fines Credit Suisse $135 million over forex practices

Reuters  |  NEW YORK 

By Karen FreifeldNEW YORK (Reuters) - Credit Suisse Group AG on Monday agreed to pay $135 million to New York to resolve a probe of misconduct in its foreign exchange business, which the state's banking regulator said deceived customers to enhance its own profits. Credit Suisse traders improperly shared information to manipulate currency prices and benchmark rates, and took advantage of its electronic trading platform to trade ahead of known client orders, the New York State Department of Financial Services said.Switzerland's second-biggest bank engaged in "unsound conduct" from at least ...

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First Published: Tue, November 14 2017. 03:48 IST
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