Britain's financial watchdog slapped a £4 million sterling (euro 6.40 million) fine, its highest ever, on investment bank Credit Suisse First Boston today for trying to mislead Japanese regulatory and tax authorities.
The Financial Services Authority said that, between 1995 and 1998, Credit Suisse First Boston International had attempted to mislead the Japanese authorities by concealing and removing evidence about the extent and type of its Japanese businesses.
CSFB is a unit of Swiss financial services giant Credit Suisse Group. The FSA said it considered any attempt to mislead regulators "whether in the UK or in other countries to be an extremely serious issue".