Credit Suisse chief's outflow claims under probe by regulator

Switzerland's financial regulator is reviewing comments that Credit Suisse Chairman Axel Lehmann made in December on outflows from the company having stabilized, on the basis that they may have been misleading, Reuters reported.

Finma is looking to establish the extent to which Credit Suisse representatives like Lehmann were aware that clients were still withdrawing funds when he made the comments, according to the report, which cited two unidentified people familiar with the matter.

In an interviewwith Bloomberg News, Lehmann said that client withdrawals, which had surged in early October, had "basically stopped." The remarks were made before the close of a crucial $4 billion capital raise, though results published this month showed that further outflows worth tens of billions of dollars continued until at least the end of the quarter.


The regulator is reviewing whether Lehmann's statements were potentially misleading, Reuters reported.