Credit Suisse fined for mortgage-backed securities violations

Credit Suisse, which was taken over by UBS, settled a US Securities and Exchange Commission (SEC) investigation into prohibited fund services with a payment of a good $10 million.

Credit Suisse is said to have violated the regulations regarding mortgage-backed securities.

Credit Suisse Securities and other CS units were prohibited from acting as issuers or advisors for investment funds, according to a statement from the SEC published on Thursday night. Nevertheless, they worked in these functions. ...