Credit Suisse Group A.G. has reached a $196 million settlement with the U.S. Securities and Exchange Commission to resolve charges that it gave cross-border brokerage and investment advice to U.S. clients without first registering with the SEC, the agency announced Friday.
Under the settlement, which includes an admission of wrongdoing by Credit Suisse, the Swiss financial services firm will pay $82 million, representing its U.S. cross-border advisory services revenue, plus $64 million in interest and a $50 million fine.
