NY Regulator Looks To Extend Deutsche Bank Monitorship
By Jon Hill (June 13, 2019, 7:23 PM EDT) -- New York's top financial services regulator isn't yet satisfied with Deutsche Bank's progress on strengthening its anti-money laundering compliance programs under a 2017 consent order and is moving to keep an outside monitor at the bank for longer, Law360 confirmed Thursday.
The New York State Department of Financial Services required Deutsche Bank AG to hire an independent monitor as part of a 2017 consent order resolving allegations that the bank had helped wealthy Russians launder more than $10 billion through a so-called mirror-trading scheme.
The order, which included a $425 million fine, tasked the monitor with conducting a compliance protocol review...
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