Zhitong Finance APP learned that Credit Suisse, Deutsche Bank and UBS said it is not expected that the third-quarter earnings will be affected by fines from U.S. regulators on more than a dozen banks, including them, for employees' illegal use of communication tools.

Zhitong Finance APP learned that Credit Suisse (CS.US), Deutsche Bank (DB.US) and UBS (UBS.US) said that the third quarter earnings are not expected to be affected by fines from US regulators on more than a dozen banks, including them, for employees' illegal use of communication tools.

Deutsche Bank confirmed in a statement that the results scheduled to be announced next month will not be affected in any way. Credit Suisse and UBS also said that they basically reserved enough cash to pay the fine.

htmlOn September 27, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Committee (CFTCh) respectively announced that they had reached a settlement with more than a dozen banks, involving the failure of these banks to monitor employees' use of unauthorized instant messaging applications including WhatsApp, a subsidiary of Meta Platform, and the total fine was exceeded US$2 billion.

It is reported that in the US SEC investigation, eight companies agreed to pay a fine of US$125 million each: Barclays (BCS.US), Bank of America (BAC.US), Citigroup (CS.US), Credit Suisse, Deutsche Bank, Goldman Sachs (GS.US), Morgan Stanley (MS.US), and UBS. Jeferies and Nomura agreed to pay $50 million each, while Cantor Fitzgerald agreed to pay $10 million.

has the highest fines against CFTC, with the highest of US$100 million, followed by Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley and UBS, each of which is US$75 million. Nomura was fined $50 million, Jefferies was fined $30 million, Cantor Fitzgerald was fined $6 million.