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Credit Suisse Hong Kong Ltd Reaches a Non-Prosecution Agreement with Department of Justice

Zurich, June 6, 2018 - Credit Suisse Hong Kong Ltd. (“Credit Suisse”) is pleased to have reached a resolution in a non-prosecution agreement with the Department of Justice (“DoJ”) to resolve their investigation of hiring practices in the Asia Pacific region between 2007 and 2013. 

No criminal charges have been brought. Credit Suisse will pay a monetary penalty of approximately USD 47 million to the DoJ, which has been substantially provided for in prior periods and will therefore have no material impact on its 2Q 2018 financial results, which will be announced on July 31, 2018. 

As cited in the agreement, since 2013 Credit Suisse has implemented numerous enhancements to its compliance and controls function and it remains committed to upholding the highest standards of integrity and fair business practices in every jurisdiction in which it operates. 

This legacy matter did not impact the services provided to any clients, investors or counterparties.