When Credit Suisse Group AG delayed publishing its annual report in March, the Swiss bank said it was because of a “late call” the evening before from the US Securities and Exchange Commission asking questions about its previous accounting errors.
The regulator had actually been probing the bank for eight months, asking questions about its internal controls and how it planned to remedy problems since July, according to correspondence between the SEC and the bank publicly released on Tuesday.
Source: Credit Suisse Probed by SEC Eight Months Before Its Collapse (2)
