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US fines Deutsche Bank over forex violations

By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Washington (dpa) - The US Federal Reserve on Thursday said it was fining Deutsche Bank 156.6 million dollars for "unsafe and unsound" practices on the foreign exchange markets and breaching the "Volcker rule."

Trader‘s at the Frankfurt-based firm revealed their positions to competitors in online chatrooms, according to the Reserve, which said it had ordered the bank to improve management oversight and controls on forex trading.

It said the bank had also failed to comply with the Volcker rule, which prohibits banks from proprietary trading and having certain relationships with hedge funds and private equity funds.


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(25.04.2017 08:40)

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