Credit Suisse to delay its 2022 annual report after a 'late call' from the SEC
Publishing timestamp: 2023-03-09 07:03:58
Summary
Credit Suisse has delayed the publication of its 2022 annual report after receiving comments from the U.S. Securities and Exchange Commission regarding revisions to consolidated cash flow statements in previous years. The bank confirmed that its 2022 financial results are not impacted by the delay. Credit Suisse has been struggling with chronic underperformance in its investment bank and compliance failures, and recently faced criticism from Swiss regulator FINMA for breaching supervisory obligations in its relationship with Greensill Capital. The bank's shares are expected to fall further at market open on Thursday.
Sentiment: NEGATIVE
Keywords: banks, business news, breaking news: europe, credit suisse group ag,