(Bloomberg) -- Credit Suisse Group agreed to pay $197 million and admitted that it improperly solicited thousands of American clients, ending a U.S. regulatory probe while a broader criminal investigation of tax evasion still looms.
The bank collected about $82 million in fees and amassed as many as 8,500 U.S. client accounts from at least 2002 through 2008, the SEC said in an administrative order today. The accounts held an average total of $5.6 billion in securities assets, the SEC said.
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