05-10-2016 19:53 via news.yahoo.com

Credit Suisse admits wrongdoing in asset measure, to pay $90 million

By Sarah N. Lynch WASHINGTON (Reuters) - Credit Suisse AG will pay a $90 million penalty and admit wrongdoing after an investigation by U.S. regulators found the bank misrepresented how it determined a performance metric in its wealth management business to investors. The Securities and Exchange Commission said former Credit Suisse executive Rolf Bogli, 52, also agreed to settle and pay $80,000 for his role in the violations. The SEC said its probe found the bank did not follow the methodology i
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