Deutsche Bank Is First Bank Busted for Breaking the Volcker Rule

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Deutsche Bank Is First Bank Busted for Breaking...
 © CyprusDaily 2017
Deutsche Bank AG was hit with the Federal Reserve’s first major fine for failing to ensure traders abide by the Volcker Rule’s ban on risky market bets — and will pay even more for letting currency desks chat online with competitors, allegedly revealing positions.

The simultaneous sanctions, totaling almost $157 million, fault lax oversight of traders that persisted into last year. The company — which raised $8.5 billion from investors this month to recapitalize — admitted to the Fed in March 2016 that it still lacked adequate systems for keeping tabs on dealings that might...


Deutsche Bank Is First Bank Busted for Breaking the Volcker Rule


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