Credit Suisse: FINMA opens proceedings in “Archegos” case and confirms ongoing proceedings in “Greensill” case

The Swiss Financial Market Supervisory Authority FINMA has opened enforcement proceedings against Credit Suisse after the bank suffered significant losses in connection with a US hedge fund (“Archegos”). Furthermore, FINMA announces that it opened proceedings against the bank in the context of the “Greensill” case in March 2021. Supplementing measures…