October 5, 2016 / 5:21 PM / a year ago

Credit Suisse to pay $90 mln over misrepresenting performance metric

WASHINGTON, Oct 5 (Reuters) - Credit Suisse AG will pay a $90 million penalty and admit to wrongdoing, after an investigation by U.S. regulators found the bank misrepresented to investors how it determined a performance metric in its wealth management business.

The Securities and Exchange Commission said that in addition to its settlement with the bank, former Credit Suisse executive Rolf Bogli also agreed to settle and pay $80,000 for his role in the violations. (Reporting by Sarah N. Lynch; Editing by Alan Crosby)

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