Banking Trust and Expertise
We offer our clients high-quality service and advice and strive to maintain a rigorous compliance and control culture in order to inspire trust in our bank.
High-Quality Service and Advice
When providing advice to our clients, we assess its suitability to help ensure that our clients have the requisite knowledge and experience to understand the associated risks and to make sure that our advice is in line with their risk profile and investment objectives. When executing orders on behalf of our clients, we assess the appropriateness of the transaction for them and address potential mismatches. The Credit Suisse advisory process helps us to understand our clients’ circumstances, their risk profile as well as financial needs and plans, and it incorporates sophisticated analytical tools that can identify counterparty risks and simulate potential returns in different scenarios to provide an objective basis for client investment decisions. Credit Suisse has been committed to strengthening investor protection for a number of years and has invested in the related systems, processes and employee training – including a mandatory certification program for relationship managers.
SMEs in Switzerland
The importance of banks for the continued development and growth of the economy is demonstrated by our activities in our Swiss home market, where Credit Suisse is a trusted financial partner to around 100,000 companies or around 1 in 3 businesses. The majority of Credit Suisse’s corporate clients are small and medium-sized enterprises (SMEs) that generally have no direct access to the capital markets and are therefore often reliant on bank loans to fund working capital and/or investments. One of our goals is to assist these companies through a fair, competitive and risk-adjusted lending policy.
Find out more about how Credit Suisse works with Swiss businesses to support growth.
The high level of importance that Credit Suisse assigns to the area of compliance is reflected by the fact that Compliance and Regulatory Affairs operates as a dedicated function. As an independent Executive Board level function, it has the specific mandate of overseeing all compliance and regulatory matters for Credit Suisse.
Recognizing the critical role of employees in helping to preserve financial integrity, we aim for the highest standards of personal accountability and ethical conduct from each member of our workforce. All employees and members of the Board of Directors are obligated to adhere to Credit Suisse’s Code of Conduct. To ensure we are continuously informed of the latest regulations and industry standards, our employees are required to participate in an annual targeted and tailored training curriculum. It includes, but is not limited to, developments in the finance industry and internal best practices in order to achieve compliant growth. In early 2017, we launched a globally consistent approach to Conduct and Ethics with a set of six standards – Client Focus, Meritocracy, Stakeholder Management, Accountability, Partner and Transparency – to further embed expectations of good conduct in our employees.
To protect against the risk of corruption, we have global standards in place related to corruption prevention. We also strive to prevent the improper use of products and services by third parties. As part of our efforts to fulfill our due diligence requirements, we issue policies governing topics such as business relations with politically exposed persons (PEP), the prevention of money laundering and terrorist financing, and adherence to applicable economic and trade sanctions laws. Furthermore, the bank is actively involved in the development and implementation of industry standards to combat money laundering and corruption. An example is Credit Suisse’s participation in the Wolfsberg Group, which reflects our commitment to implementing the latest anti-money laundering and anti-bribery standards while also staying abreast of important developments. In addition, employees must ensure that transactions that may impact on the reputation of Credit Suisse undergo our bank-wide standardized Reputational Risk Review Process.
Commitment to Tax Compliance
Credit Suisse policies mandate that we do not accept or manage client assets if we know or become aware of information that would support a suspicion of tax noncompliance. To address the regulatory and reputational risks associated with undeclared assets held by private clients, Credit Suisse has, over the last several years, carried out comprehensive client tax programs and reviews covering clients in essentially all of our major markets. In addition, we have a Client Tax Compliance Policy that underpins our zero tolerance approach to tax evasion or the facilitation of tax evasion.
Credit Suisse adheres to its obligation as a financial institution to collect information regarding the tax classification of clients in order to assist in the sharing of information by tax authorities across borders. For more on the Automatic Exchange of Information, visit the dedicated page. Information on the US Foreign Account Tax Compliance Act, which came into effect on July 1, 2014, can be found here.