Tishwash: Deutsche Bank fined for $ 205 million
Direct : approved “Deutsche Bank” to pay $ 205 million fine for the management of financial services in New York for violating the banking law.
“This fine is due to improper, unsafe and improper behavior in the foreign exchange activity of the German bank between 2007 and 2013,” Maria Te Volo, director of financial services in New York, said in a statement on Wednesday.
Due to Deutsche Bank’s deregulation of its foreign exchange business, some traders have taken advantage of this to misuse customer confidence and violate New York State law over several years, Volo said.
The DFS investigation, conducted by the Financial Services Department, found that a number of foreign currency traders at the Deutsche Bank participated in online chat rooms where participants exchanged confidential information and tried to manipulate foreign exchange rates or interest rates.
According to Volo, under the Bank’s Today Acceptance Order, it will take corrective action not to repeat this behavior and will present plans to improve Deutsche Bank’s monitoring of its investors’ compliance with the New York State laws on foreign exchange trading link
KMan: Just out in Iraqi news June 20th: (finally the courts make a ruling) THE FEDERAL COURT WILL REPEAL THE THIRD ARTICLE OF THE THIRD AMENDMENT LAW IN THE LAW OF THE ELECTIONS… http://www.thebaghdadpost.com/en/story/2…