Credit Suisse to delay its 2022 annual report after a 'late call' from the SEC

Credit Suisse connected Thursday announced that it volition hold the work of its 2022 yearly study aft a precocious telephone from the U.S. Securities and Exchange Commission connected Wednesday night.

In a statement, the embattled Swiss lender said the speech related to SEC comments astir the "technical appraisal of antecedently disclosed revisions to the consolidated currency travel statements successful the years ended December 31, 2020, and 2019, arsenic good arsenic related controls."

"Management believes it is prudent to concisely hold the work of its accounts successful bid to recognize much thoroughly the comments received. We corroborate the 2022 fiscal results arsenic antecedently released connected February 9, 2023, are not impacted by the above," the slope said.

The yearly study was scheduled for merchandise connected Thursday morning. On Feb. 9, Credit Suisse reported a monolithic 2022 full-year nett nonaccomplishment of 7.3 cardinal Swiss francs ($7.8 billion) and telegraphed different "substantial" full-year nonaccomplishment for this year.

The slope successful October announced a program to simplify and alteration its concern successful a bid to instrumentality to unchangeable profitability, pursuing chronic underperformance successful its concern slope and a litany of hazard and compliance failures.

In precocious February, Swiss regulator FINMA concluded that Credit Suisse "seriously breached its supervisory obligations" regarding a concern narration with collapsed proviso concatenation concern steadfast Greensill Capital.

This is simply a processing communicative and volition beryllium updated shortly.