Credit Suisse's chairman faces probe over comments that potentially misled investors about client fund outflows, report says
Switzerland's financial markets regulator is reportedly scrutinizing comments made by Credit Suisse's chairman in December, when he said huge client outflows at the bank were drawing to a halt.
Finma wants to find out whether Axel Lehmann and other Credit Suisse representatives knew that clients were still withdrawing funds when he made the remarks, Tuesday, citing people familiar with the matter. The regulators are reviewing whether the comments were potentially misleading, it said.on December 1 that client outflows had"completely flattened out" and"partially reversed". A day later, he told Bloomberg TV the outflows"basically have stopped". in the first weeks of the fourth quarter.and suggestions it was facing a Lehman-Brothers style collapse.
Lehmann's comments were made just before Credit Suisse closed a push to raise $4 billion in capital to fund a
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