“Bribery can take many forms, including granting employment to friends and relatives of government officials. Credit Suisse's practice of engaging in these hiring practices violated the law, and it is now being held to account for having done so,” said Charles Cain, chief of the SEC enforcement division unit focused on the Foreign Corrupt Practices Act.

"With the previously announced U.S. Department of Justice settlement, this puts this legacy matter behind the bank, and represents no material impact to Credit Suisse," the spokesperson said. "The bank has implemented numerous enhancements to its compliance and controls function and remains committed to upholding the highest standards of integrity and fair business practices in every jurisdiction in which it operates.”