Credit Suisse Spying Probe Extended by Swiss Financial Regulator

The transcript discusses a scandal involving Credit Suisse, where a top banker, Iqbal Khan, left to join UBS, leading to Credit Suisse hiring private investigators to follow him. This caused a scandal, prompting the Swiss regulator FINMA to investigate. Initially, an external law firm was hired, but the case escalated to enforcement proceedings, indicating seriousness for Credit Suisse. The bank issued a statement acknowledging the regulator's actions and distancing itself from spying. FINMA's options include targeting executives or the board, but it cannot impose fines. Potential penalties include industry bans for executives.

How does the regulatory approach in Switzerland differ from that of the SEC in the United States?

What are some potential penalties that the regulator could impose on Credit Suisse executives?