FINRA Fines Credit Suisse Over Missing Reports

Law360, New York (August 10, 2009, 2:52 PM EDT) -- The Financial Industry Regulatory Authority has levied a $275,000 fine on Credit Suisse Securities USA LLC for failing to provide tens of thousands of current, independent research reports to the public as required by the 2003 Global Research Analyst Settlement.

The regulator announced the fine Monday, saying that Credit Suisse's lack of adequate safeguards, controls and oversight led the bank into three significant failures to make independent research available to its customers.

The Global Research Analyst Settlement, which was forged by the U.S. Securities and Exchange...
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