2023-09-23 20:47:33
Now the auditors at KPMG are being targeted
The American judiciary is investigating possible misinformation of Credit Suisse shareholders and bondholders. Bribery also plays a role.
With the forced takeover of Credit Suisse, UBS not only took over a special profit of 25 billion francs, but also the legal cases.
Foto: Imago/Sipa USA
The joy over the 25 billion franc special win at UBS has not yet faded, but it is already clear that UBS has also created a lot of trouble for itself with CS. On page 110 of 116 of semi-annual report There is information that both the American Department of Justice (DOJ), the American Securities and Exchange Commission (SEC) and, in their wake, the Swiss Financial Market Supervisory Authority (Finma) are demanding information regarding allegedly misleading information on the outflow of customer funds and on the control of financial reporting. While the first point primarily affects CS CEO Ulrich Körner and ex-CS President Axel Lehmann, the second point also concerns the long-standing CS auditing company KPMG. Credit Suisse is cooperating with the authorities in these matters.
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