Credit Suisse Scolded by Finma for Rewarding Rogue Banker

The Swiss regulator criticized Credit Suisse for inadequate oversight of wealth manager Patrice Lescaut, who was jailed for misconduct. The bank was accused of rewarding him despite questionable profit sources. Credit Suisse faces broader compliance issues, including past problems with FIFA and Petrobras. The regulator demands improved compliance measures.

What actions did the Swiss regulator take against Credit Suisse regarding Patrice Lescaut?

How did Credit Suisse respond to the regulator's concerns about compliance?

What does the term 'Lone Wolf' refer to in the context of banking compliance?

What historical allegations against banks were mentioned in the text, and what is their significance?

What were some of the issues that the Swiss regulator highlighted in relation to Credit Suisse?