The Rap Sheet Review - Credit Suisse

Too many brokerage firms think of due diligence as just another set of forms to fill out, rather than an opportunity to protect their clients from a guaranteed 100 percent loss.

Today’s edition of the Rap Sheet Review features Credit Suisse.  The Financial Industry Regulatory Authority (FINRA), an organization made up of registered broker-dealers (brokerage firms), censured Credit Suisse and fined the firm $350,000 for telling wealthy investors that it performed continuing due diligence on the hedge funds that Credit Suisse recommended. According to FINRA’s press release: (more…)

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