Swiss Agency Probes Credit Suisse, Other Banks

Law360, New York (November 6, 2008, 12:00 AM EST) -- Switzerland's banking watchdog reportedly is investigating Credit Suisse and other Swiss banks amid allegations that the banks failed to inform customers of the risks involved in buying Lehman Brothers Holdings Inc. financial products that are now worthless after the investment bank's epic bankruptcy filing in September.

The Swiss Banking Commission announced it has narrowed the focus of its probe to a select group of banks, including Credit Suisse, that sold Lehman products to retail clients without disclosing the risks involved as required under Swiss law, Reuters...
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