Credit Suisse Conducts Internal Probe Into Alleged Trader Misconduct
Electronic communication at Credit Suisse has come under intense scrutiny again after a trader was recently suspended. The bank started to probe staff e-communications following allegations of info sharing with traders at rival desks and a trend of lewd behavior in chat rooms. The chat rooms are increasingly becoming a regulatory burden for the large banks because they attract inappropriate behavior that involves staff both inside and outside of the banks. The chat room conduit was thrown into spotlight when it provided much of the evidence for LIBOR cases that mired the banks with large fines last year.