Lawsky said in a statement after Credit Suisse agreed to plead guilty to U.S. criminal charges that the Swiss bank would pay a $715 million penalty as part of an agreement with his agency and be required to install an independent monitor as part of the settlement.

He said an independent monitor would further review the involvement of Credit Suisse employees in the misconduct. Lawsky said Credit Suisse must fire certain individuals who were previously indicted but were still being paid by the bank.

(Reporting by Eric Beech; Editing by Jim Loney)