Credit Suisse Asset Management is still managing pension fund assets in the U.S., after the Department of Labor granted the firm a second and longer exemption from being barred from such activity after a criminal conviction.
CSAM could have been prohibited from continuing to manage pension fund assets by virtue (or the lack thereof) of the fact that its banking entity Credit Suisse AG was convicted of helping U.S. citizens avoid taxes overseas.
But instead the DOL granted it a one-year temporary exemption last year.
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