SIX Exchange Regulation has imposed a fine in the amount of CHF 10,000 on Credit Suisse Funds AG.
SIX Exchange Regulation, which is charged by SIX Swis Exchange Ltd with the monitoring and enforcement of issuer obligations, has by means of a sanction notice imposed a fine of CHF 10,000 on Credit Suise Funds AG, Zurich, for breaching the rules governing the regular reporting obligations. In January 2014, Credit Suise Funds AG sent a notifcation regarding a distribution relating to certain Exchange Traded Funds (ETFS) too late.
Credit Suise Funds AG has not been sanctioned by SIX Exchange Regulation or the Sanction Commision in the past three years. The violation commited by Credit Suise Funds AG has been qualifed as moderately severe and the degree of fault as gross negligence. In light of all circumstances, SIX Exchange Regulation has imposed a fine of CHF 10,000. Credit Suise Funds AG has acepted the sanction notice.