Deutsche Bank disclosed in its annual report Friday the Department of Justice determined the financial institution breached its obligations under a 2021 deferred prosecution agreement (DPA).
The Justice Department found the bank “violated the 2021 DPA based on untimely reporting by the bank of certain allegations relating to environmental, social, and governance (ESG)-related information at the bank’s subsidiary, DWS Group,” according to the filing. The term of an independent compliance monitor at Deutsche Bank has been extended until February 2023 as the result of a new agreement between the bank and the Justice Department.
