Credit Suisse (Hong Kong) Limited, Credit Suisse Securities (Hong Kong) Limited and Credit Suisse AG
Climate Impact & Sustainability Data (2010-02 to 2017-04)
Reporting Period: 2010-02 to 2017-04
Environmental Metrics
ESG Focus Areas
- Governance
Governance Achievements
- Credit Suisse self-reported regulatory breaches and cooperated with the SFC investigation.
- Credit Suisse engaged independent reviewers to investigate and review internal controls.
- Credit Suisse implemented remedial actions to strengthen internal controls and systems.
- CSAG compensated affected clients for unsuitable transactions.
Climate Goals & Targets
Environmental Challenges
- Internal control failures in segregating client securities, reporting direct business transactions, complying with short selling requirements, electronic trading requirements, contract notes rules, and ensuring suitability of investment products sold to customers.
Mitigation Strategies
- Self-reporting of breaches, engagement of independent reviewers, remedial actions to strengthen internal controls, and compensation of affected clients.