The purpose of Credit Suisse’s internal Policy (P-00025), US Customer and US Cross Border Policy for the Private Banking Business (US Policy), is to mitigate compliance, legal and regulatory risks resulting from relationships and contacts with US Persons and to protect the Bank's reputation. In February, 2015, a revised version of the US Policy was published in order to:
• Reflect revised standards applicable to client-facing employees (CFEs) engaged in US customer activities
• Define and implement the US Legal & Compliance Program, and
• Describe in further detail the consequences of non-compliance with the US Policy.
All CFEs of the non-US-licensed branches, subsidiaries and offices of the Private Banking (PB) business within the Private Banking & Wealth Management Division must adhere to the US Policy. The diverse target audience, therefore, comprises CFEs, their supervisors and their support personnel as well as the responsible Legal & Compliance representatives.