In a sign that Britain's financial regulator is tightening its grip on the banking sector, it fined Credit Suisse Group £5.6 million for failing to sufficiently supervise trading activities.
The Credit Suisse Group was fined $11.2 million because of pricing errors in some asset-backed securities, an indication that agency was tightening its oversight of the investment banking sector.
Aug. 14 (Bloomberg) -- Japanese stocks slumped for a third day after Urban Corp. became the largest Japanese company to file for bankruptcy this year and Merrill Lynch & Co. said the global credit crisis is far from over.
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Credit Suisse has been fined 5.6 million pounds (10.6 million) by Britain?s Financial Services Authority over pricing errors on certain asset-backed securities.
