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Deutsche Bank Korean Unit Hit With 6-Month Ban

Law360 (February 24, 2011, 2:41 PM EST) -- South Korean securities regulators on Wednesday hit a Deutsche Bank AG subsidiary with a six-month ban on securities and derivatives trading in the country over its role in a November flash crash that cost investors more than $26 billion.

The penalty assessed on Deutsche Securities Korea is the largest ever handed down by the Korean Financial Services Commission, the country's top securities regulator. The six-month ban on trading for Deutsche Securities Korea's own account is set to begin in April.

The FSC also recommended that Korean...
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