Credit Suisse ‘seriously breached’ obligations on Greensill, says regulator

Credit Suisse headquarters. The bank has been working to overhaul its risk management and compliance. Photograph: Fabrice Coffrini/AFP/Getty Images

Credit Suisse “seriously breached its supervisory obligations” in its relationship with the disgraced financier Lex Greensill and his companies, the Swiss financial watchdog has ruled.

The Swiss Financial Market Supervisory Authority (Finma) said it had concluded its enforcement proceedings against the bank, Switzerland’s second largest, after the collapse of Greensill Capital in March 2021.