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Credit Suisse finds ‘material weaknesses’ in controls after annual report delay

A last minute call from the SEC forced Credit Suisse to delay its annual results

Credit Suisse has battled successive crises over the past two years including a $5.5bn loss from the collapse of family office Archegos Capital
Credit Suisse has battled successive crises over the past two years including a $5.5bn loss from the collapse of family office Archegos Capital Photo: AFP via Getty Images

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Credit Suisse has "identified material weaknesses" in its internal reporting controls after the Swiss bank delayed the release of its annual results at the behest of US regulators.

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