The US Department of Labour (DoL) asked for a public hearing in January 2015 on whether to issue its recommended 10-year exemption for Credit Suisse to continue to qualify as Qualified Professional Asset Managers (QPAM) and provide services to US pension plans. At the moment Credit Suisse is under a one-year exemption.

Reuters reported that ‘Several Democratic lawmakers, including Maxine Waters, who is the ranking member of the House financial services committee, and George Miller, who holds the same position on the House education and workforce committee, had asked for the hearing. The lawmakers said they wanted to make sure the agency was not just a “rubber stamp” in granting the waivers’.