The Swiss Financial Market Supervisory Authority (FINMA) has found that Credit Suisse seriously breached its obligations in the Greensill case.

The case involves the collapse of the supply-chain finance firm Greensill Capital in March 2021, which was backed by Credit Suisse.

The regulator said that Credit Suisse had failed to meet its supervisory obligations in its dealings with financier Lex Greensill, and had failed to take appropriate action to protect its customers.

It said that Credit Suisse had not carried out proper due diligence on the firm, had not adequately monitored its activities, and had not taken appropriate action when it became aware of potential risks.

The regulator also said that Credit Suisse had failed to properly assess the risks associated with its activities, and had not taken sufficient steps to prevent the misuse of customer funds.

The regulator said that it had imposed a fine of CHF 4 million ($4.3 million) on Credit Suisse for its failure to meet its obligations.

The case has been closely watched by investors and regulators around the world, as it has raised questions about the role of banks in financing risky investments.

It is also a reminder of the need for banks to take appropriate steps to protect their customers and to ensure that they are not exposed to unnecessary risks.