This case was about deferred compensation and stemmed from the firm’s October 2015 decision to close its U.S. private banking business. In the case, FINRA arbitrators said Credit Suisse must pay seven onetime brokers about $6.4 million. That covered damages, costs and attorneys’ fees.
The arbitrators also ordered Credit Suisse to pay 10% annual interest from the time each of the brokers left the firm in late 2015. That raised the total award to about $10 million.