SEC orders Credit Suisse Asset Management to pay $10M for violating Investment Company Act in managing DHY

CREDIT SUISSE HIGH YIELD CREDIT FUND

SEC administrative order finds Credit Suisse violated Section 9(a) of 1940 Act from Oct 2022 to Jun 2023 while acting as adviser to DHY.
Credit Suisse and affiliates censured, agree to cease and desist; pay disgorgement, interest, and civil penalties totaling $10,080,220.
Fund not involved in underlying consent judgment; services continue under temporary exemption until June 12, 2024, then transition to UBS advisers.

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