Losses and lawsuits
Our monthly review of fraud management failure, human error and other operational hazards at financial firms around the world, distilled from the First database of operational risk loss events and case studies
Credit Suisse Group (Credit Suisse First Boston)
In a case that hearkens back to the bull market of the late 1990s, the National Association of Securities Dealers (NASD) announced on February 2 that it had fined Credit Suisse First Boston (CSFB) $150,000 and ordered the investment bank to pay more than $600,000 in restitution to a group of aggrieved clients. According to the industry self-regulator
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