Credit Suisse agreed to pay a $90 million penalty and admit wrongdoing to settle SEC charges that it misrepresented how it determined a key performance metric of its wealth management business. Rolf Bögli, 52, who had served as COO of the firm’s private banking division, agreed to pay $80,000 to settle charges that he was a cause of Credit Suisse’s violations - which he neither admitted nor denied.
 

Credit Suisse's wealth management business had assets under management (which it managed) and assets under custody (which it didn't), and sometimes reclassified assets from AUC to AUM based on a customer's intent to have it start managing them.  Moving assets from AUC to AUM increased "net new assets," ("NNA"), a metric that CS used to talk up how good business was.

The problem, according to the SEC, was that these reclassifications were not based on each client’s intentions and objectives, but on some other undisclosed basis that CS used to determine NNA - apparently to meet certain targets established by senior management.
 
The SEC blamed COO Bögli for these errors, saying he pressured employees to classify certain high net worth and ultra-high net worth client assets as NNA despite concerns raised by employees most knowledgeable about a particular client’s intent.