In the Matter of Credit Suisse Securities (USA) LLC

Credit Suisse Securities (USA) LLC was censured and fined for failing to establish and maintain a supervisory system and procedures reasonably designed to achieve compliance with federal securities laws and FINRA rules prohibiting various forms of manipulative and insider trading, according to FINRA. The firm's surveillance reports also did not detect specific instances of potentially violative trading. FINRA's analysis revealed that the firm's surveillances did not detect multiple specific instances of potentially manipulative trading by firm customers including instances of potential spoofing, marking the open, wash trades, and insider trading, according to FINRA.

Summary generated from official Financial Industry Regulatory Authority press release