Swiss Probe Credit Suisse Over $4.7B Archegos Loss
Law360, London (April 22, 2021, 11:54 AM BST) -- Switzerland's financial watchdog said on Thursday that it has launched enforcement proceedings against Credit Suisse after the investment bank reported $4.7 billion in losses from its exposure to U.S. hedge fund Archegos Capital Management, which collapsed in March.
The Swiss watchdog said it will probe potential lapses in risk management at Credit Suisse, which could have led to the hit it took from Archegos. (iStock) The Swiss Financial Market Supervisory Authority said it will investigate possible shortcomings in the risk management at Credit Suisse Group AG, which could have led to the hit it took from Archegos, a so-called family office, which...
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