Professional integrity

Our Code of Conduct outlines the expectation that Credit Suisse employees hold themselves to the highest standards in everything we do and say – in all facets of their work, whether that be the effort we put in or the results we achieve. The Code of Conduct was updated in early 2021 to align with our revised values framework and newly launched purpose statement (see also page 39).

Our Code of Conduct clearly states it is the responsibility of all employees to be familiar with compliance requirements, and to conduct themselves in accordance with the relevant laws, guidelines, policies and processes that apply to them. The bank in turn has an obligation to help employees understand the applicable rules and to provide training, technology and digital solutions with the aim of helping Credit Suisse achieve compliance. To ensure that we are continuously informed of the latest regulations and industry standards, our employees are required to participate in an annual targeted and tailored training curriculum. The training program includes, but is not limited to, developments in the finance industry and internal best practices for continued compliant growth.

Credit Suisse manages improper employee behavior and employee breaches through global disciplinary and escalation processes across three lines of defense. Our disciplinary process provides a structure that is designed to confirm that the bank’s standards of professional conduct (including our Conduct and Ethics Standards historically and now our cultural values and Code of Conduct), policies and procedures (including on the prevention of money laundering, terrorist financing and bribery and corruption), and external laws, rules, regulations, standards and principles are adhered to and enforced on an ongoing basis, subject to local differences. Our Group and divisional and functional Conduct and Ethics Boards provide an independent review of disciplinary matters and, where necessary, participate in or challenge disciplinary recommendations that may impact employee compensation and promotion opportunities.