[ad_1]
Economics
Friday, July 20, 2018
The United States Securities and Exchange Commission imposed a colossal fine of $ 75 million on two of its subsidiaries Deutsche Bank. Not the first expensive legal dispute for the financial giant. The reason in this case: prohibited business practices.
Deutsche Bank comes again to settle the United States expensive violations. The US Securities and Exchange Commission has fined nearly $ 75 million (US $ 64 million) to two of the bank's US subsidiaries for banning certain practices on certain securities certificates. 39; shares. Washington authorities said.
ADRs (American Depositary Receipts) are an alternative to the trading of shares of foreign companies in the US capital market, a US subsidiary of Deutsche Bank would have issued these securities in advance Having complied with regulations.
A spokesman for Deutsche Bank in New York said that since the end of 2016, they have not participated in such transactions and have cooperated extensively in investigations with the SEC. In recent years, the bank has had to pay several high penalties for various disputes in the United States
US controllers have injected Deutsche Bank with a three-figure fine in June due to 39, collusion prohibited on the foreign exchange market. The bank approved a payment of $ 205 million (177 million euros) for past violations of New York's financial law. In particular, Deutsche Bank was accused of inadequate internal controls: traders and sellers would have made illegal arrangements for currency transactions in online conversations and the sharing of confidential customer data in order to direct the market to their own advantage .
Source link
