UK regulator adds Credit Suisse to watch list on risk concerns

The UK’s financial regulator has added Credit Suisse to a watch list over concerns that it hasn’t sufficiently addressed risky culture as the lender struggles to draw a line under a series of scandals and turbulence. Picture: BLOOMBERG

The Financial Conduct Authority told Credit Suisse last month it was adding the bank’s UK operations and international unit to a list of firms warranting close monitoring after a series of scandals, according to a person with knowledge of the matter. The regulator cited concern over its risk controls, governance and culture.

“We do not comment on our discussions with regulators, nor would it be appropriate for us to do so,” Dominik von Arx, a spokesperson for the bank, said in an emailed statement. “As we have summarised before, we are now well advanced in executing the plan to strengthen our businesses and our risk culture.”

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