The New York Times reports that New York state’s financial regulator is close to picking Neil Barofsky as the corporate monitor for Credit Suisse.Neil Barofsky built a reputation for nailing Wall Street.
Following the settlement and guilty plea Credit Suisse agreed to hire a monitor. For up to two years, Neil Barofsky will scrutinize the compliance programs that was in place when Credit Suisse was helping US account holders evade taxes. Neil Barofsky will also study the involvement of individual employees.
Credit Suisse declined to comment.