FILE PHOTO: Logo of Swiss bank Credit Suisse is seen in LuzernMore
By Michael Shields and Brenna Hughes Neghaiwi
ZURICH (Reuters) – Credit Suisse <CSGN.S> has lost a bid to block an auditor appointed by Switzerland’s financial supervisor as part of its probe into the bank’s spying scandal, court documents show, with judges ruling the Swiss bank’s objections were unfounded.
Switzerland’s second-biggest bank had sought to scuttle watchdog FINMA’s appointment of Thomas Werlen, of international law firm Quinn Emanuel Urquhart & Sullivan, on grounds the firm and Werlen lacked sufficient independence, the decision showed, but a Swiss federal court found the move fulfilled necessary requirements.
“The complainant fears an inappropriate use of business secrets,” court documents outlining Credit Suisse’s appeal show.
In its probe, FINMA is examining whether