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Fed fines Deutsche Bank $156.6 million for forex violations

Thursday, April 20, 2017 21:18
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(Before It's News)

gata.org / By Patrick Rucker and Karen Freifeld, Reuters / Thursday, April 20, 2017

The U.S. Federal Reserve on Thursday fined Deutsche Bank $156.6 million for violating foreign exchange rules and running afoul of the Volcker Rule.

The German bank failed to detect and halt its traders from using chat rooms to communicate with competitors, the Fed said in a statement.

Central bank officials are “requiring the firm to cooperate in any investigation of the individuals involved in the conduct underlying the FX enforcement,” according to the statement.

In a statement, the bank said, “we are pleased to resolve these civil enforcement matters with the Federal Reserve.” …

… For the remainder of the report:

http://www.reuters.com/article/us-deutsche-bank-fed-forex-idUSKBN17M2MK

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The post Fed fines Deutsche Bank $156.6 million for forex violations appeared first on Silver For The People.



Source: http://silveristhenew.com/2017/04/20/fed-fines-deutsche-bank-156-6-million-for-forex-violations/

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