Switzerland raises the stakes for Credit Suisse in spy affair | Malay Mail

The company’s logo is seen at the headquarters of Swiss bank Credit Suisse at the Paradeplatz square in Zurich March 10, 2015. — Reuters pic

Finma said today it will pursue indications of violations of supervisory law and, in particular, the question of how these activities were documented and controlled. Such processes often take a few months, the agency said. Revelations of corporate espionage rocked the discreet world of Swiss banking last year when it emerged Credit Suisse had been spying on former wealth management boss Khan, who was leaving for rival UBS, and former human resources head Peter Goerke.

The Swiss watchdog’s rules allow it to take action against individuals if it finds that a bank broke its own internal communication rules or if it strayed from its usual framework for recording management decisions.

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