Credit Suisse (CS +0.7%) agrees to pay $30M to resolve SEC charges that it gained investment banking business in the Asia-Pacific region by "corruptly influencing foreign officials" and violated the Foreign Corrupt Practices Act.
Last month, the bank agreed to pay a $47M criminal penalty to the U.S. Department of Justice.
According to the SEC’s order, several senior Credit Suisse managers in the Asia-Pacific region sought to win business by hiring and promoting individuals connected to government officials as part of a quid pro quo arrangement.
The SEC’s order found that in a seven-year period, Credit Suisse hired more than 100 employees at the request of foreign government officials.
The amount to be paid to the SEC includes disgorgement of $24.9M plus $4.8M in interest.
Previously: Credit Suisse to pay $47M penalty to DOJ to resolve Asia-Pac hiring probe (June 6)