(Adds Chiu's role at Credit Suisse)
TAIPEI, March 8 A senior executive of the Taiwan
operation of Credit Suisse Group is under investigation for
suspected insider trading, a Taiwan prosecutor said on
Elsa Chiu is suspected of illegal trading related to the
June purchase of local firm Hermes Microvision Inc by the
Netherlands' ASML Holding NV, for which Credit Suisse
acted as advisor, Taipei District Prosecutors Office spokesman
Chang Chieh-Chin told Reuters.
"During the merger and acquisition activities, there were
some trading irregularities, and the stock exchange regulator
detected this irregular trading," said Chang, who is also a
deputy chief prosecutor.
Credit Suisse AG declined to provide immediate
Chang said Chiu was questioned over Tuesday and Wednesday
and that she posted bail of T$5 million ($162,059). He said her
husband was also suspected of involvement and posted bail of T$6
million. Neither have been charged or arrested.
In Taiwan, suspects can be summoned to assist with
investigations and can be requested to post bail before release.
Neither Chiu nor her husband could be immediately reached
Chiu is in charge of investment banking at Credit Suisse in
Several other individuals "who have relationships with the
couple" are also under investigation, Chang said.
Speaking with reporters on the sidelines of parliament on
Wednesday, Lee Ruey-Tsang, chairman of the Financial Supervisory
Commission, confirmed the ASML-Hermes Microvision deal was being
investigated, but declined to elaborate.
Dutch chipmaking equipment firm ASML bought industry peer
Hermes Microvision for around T$100 billion.
($1 = 30.8530 Taiwan dollars)
(Reporting by Jess Macy Yu and J.R. Wu; Additional reporting by
Emily Chan and Michelle Price; Editing by Christopher Cushing
and Alexander Smith)