FSA fines Credit Suisse £5.95 million for failings in Scarp sales

sterling-coin-note

The UK Financial Services Authority (FSA) has fined financial services company Credit Suisse £5.95 million for systems and controls failings related to sales made by its private bank of structured capital at risk products (Scarps), according to a final notice filed on October 25.

Between January 2007 and December 2009, Credit Suisse customers in the UK invested more than £1 billion in Scarps.

Scarps are retail financial products that provide a set level of return to a customer but also involve

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: