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Credit Suisse delays annual report on SEC call

STORY: Credit Suisse has postponed the publication of its annual report.

It comes after a last-minute call from the U.S. Securities and Exchange Commission.

The regulator raised questions about the lender's earlier financial statements.

The SEC's intervention is unusual and yet another blow for Credit Suisse.

It has seen a number of scandals and setbacks over recent years.

Its share price has plunged and clients have withdrawn billions.

Credit Suisse said the SEC called late on Wednesday (March 8).

It was to talk about previously disclosed revisions of cash flow statements in 2020 and 2019.

Credit Suisse said it decided to briefly delay publication of its annual report following the call.

It is not currently clear when last year's report will be released instead.

The bank's announcement did not go down well with analysts or investors.

Shares fell 6% after the update, sinking close to an all-time low.