Deutsche To Pay Fed $157M For Forex, Volcker Violations

Law360, New York (April 20, 2017, 7:24 PM EDT) -- Deutsche Bank AG and affiliates will pay $156.6 million to settle two Federal Reserve probes that found the bank fell short of Volcker Rule oversight requirements and let its traders rig foreign exchange rates, the regulator said Thursday.

Most of the fines, $137 million, were for forex violations, and Deutsche Bank was ordered to test its internal controls and audit and strengthen its compliance programs. (AP) The Fed faulted Deutsche’s “deficient policies and procedures” that allowed the bank's trading desks to disclose their positions and coordinate with...
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