All Deutsche Bank articles – Page 4
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PremiumTop ethics and compliance failures of 2019
From antitrust and privacy concerns in the tech world to compliance officer liability in the pharmaceutical industry to unethical practices in the banking and accounting professions, more than a dozen companies made Compliance Week’s list of the biggest compliance fails in 2019.
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ArticleTime to reassess the meaning of ‘compliance’
Deutsche Bank is just the latest scandal-plagued bank to make headlines, once again, for ignoring sound compliance advice. Maybe it’s time to eliminate the entire concept of compliance altogether, writes an exasperated Jaclyn Jaeger.
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ArticleDeutsche Bank to pay $16M in FCPA case over hiring practices
Deutsche Bank has become the latest financial institution to pay a penalty for violations of the Foreign Corrupt Practices Act over questionable hiring practices, showcasing a litany of compliance failures.
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ArticleEpstein lesson: Ignored compliance advice a red flag
The Jeffrey Epstein scandal serves up a cautionary lesson for those who work for companies that put profits over ethics.
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McHenry pushes for financial services hearings, Deutsche Bank records
Rep. Patrick McHenry (R-N.C.), the Republican leader of the House Financial Services Committee, has announced a series of hearings he wants before the Committee. He is also escalating document demands from scandal-plagued Deutsche Bank.
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Deutsche Bank offers more details on Panama Papers raid
Deutsche Bank has provided more details on a two-day raid, in which German prosecutors searched several Deutsche Bank offices, in connection with the Panama Papers. The case also imparts some important compliance lessons.
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Deutsche Bank latest to come under fire for lax AML controls
Deutsche Bank has become the fourth bank in the past month to get into regulatory trouble for having lax anti-money laundering controls in place, joining Danske Bank, ING, and Credit Suisse.
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SEC: Deutsche Bank to pay $75M for improper handling of ADRs
The Securities and Exchange Commission on July 20 announced that two U.S.-based subsidiaries of Deutsche Bank AG will pay nearly $75 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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Deutsche Bank fined $205M for ‘unsound’ conduct in Forex trading business
The New York State Department of Financial Services has fined Deutsche Bank $205 million as part of a consent order for violations of New York banking law in its Forex trading business.
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SFO: Ex-Deutsche Bank trader pleads guilty over EURIBOR manipulation
The Serious Fraud Office announced that an ex-Deutsche Bank trader pleaded guilty to conspiracy to defraud in connection with its ongoing investigation into the manipulation of the Euro Interbank Offered Rate (EURIBOR).
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Financial Conduct Authority bans former Deutsche Bank trader
The U.K. Financial Conduct Authority has fined Guillaume Adolph, a former short-term interest rate derivatives trader at Deutsche Bank, £180,000 and banned him from performing any function in relation to any regulated financial activity.
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Deutsche Bank names general counsel
Florian Drinhausen will become Deutsche Bank’s general counsel next year, leading the legal department. He will replace Co-General Counsels Christof von Dryander and Simon Dodds.
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Former SEC Enforcement Director joins King & Spalding
Richard Walker, former Director of Enforcement at the Securities and Exchange Commission, has joined international law firm King & Spalding as a partner in the Special Matters & Government Investigations group, resident in the New York office.
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Deutsche Bank, Credit Suisse reach combined $12.5B settlements
Deutsche Bank and Credit Suisse last month agreed to pay a combined $12.5 billion in penalties related to the packaging, securitization, marketing, sale, and issuance of residential mortgage-backed securities, whereas Barclays and several of its U.S. affiliates are battling a civil complaint over similar claims. Jaclyn Jaeger reports.
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Memo to Telia, Deutsche Bank: Do not negotiate with the DOJ in public
While Telia Co. and Deutsche Bank are looking to publicly war with the Justice Department over upcoming penalties, they should be learning by Avon Product’s example, says Tom Fox—the firm initially suggested a $12M fine and ended up paying a cool $135M.
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Two former Deutsche Bank employees indicted on fraud charges
The Department of Justice announced today the indictment of two former Deutsche Bank traders—the bank’s supervisor of the pool trading desk in New York and a derivatives trader in London—for their alleged roles in a scheme to manipulate the USD London InterBank Offered Rate, a benchmark interest rate to which ...
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Deutsche Bank and the continuing costs of money laundering risks
Deutsche Bank demonstrates that the costs of continuing to fail to meet regulatory requirements regarding anti-money laundering can be astronomical. Tom Fox looks at the Financial Conduct Authority’s Deutsche Bank investigation and what it means for the financial firm’s future.
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Survey: Banker Bonuses Plummet in 2016
Image: Bankers should see a sharp fall in their bonuses this year in light of new regulations and increased shareholder pressure around soaring banker bonuses. According to a U.K.-based salary benchmarking website, investment banker bonuses are expected to take a 4 percent dip this year. Last month, at an academic ...
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Bankers Still Overpaid Despite Poor Performance
Deutsche Bank Chief Executive John Cryan said earlier this week that bonuses don’t necessarily make bankers work harder; instead some employees feel that they are entitled to an outsized incentive despite bad performance. Cryan’s message come weeks after a warning was issued at Deutsche Bank about rewarding staff with new-year ...
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Banks May Get More Time to Prepare for Financial Market Regulation
The EU is considering delaying the release of a comprehensive regulation that will overhaul financial market rules. The delay comes amid mounting concerns that the legislation’s accompanying technologies may not be ready in time for the January 2017 start date. Due to the complexity of the rule, banks and other ...