Credit Suisse said in March it had postponed the annual filing after a “late call” with the regulator which raised questions about earlier financial statements.
“Management believes it is prudent to briefly delay the publication of its accounts in order to understand more thoroughly the comments received,” Credit Suisse said at the time of the delay on March 9. Material weaknesses are considered the most serious of such control failures. In previous letters to the SEC in August and November, Credit Suisse’s former chief financial officer David Mathers and his successor Dixit Joshi described the failings as “deficiencies,” which are considered to be less serious.
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