US regulators fine Deutsche Bank $70mn for trying ‘to rig benchmark rate’


Image result for Deutsche Bank

US regulators have fined Deutsche Bank, Germany’s largest lender, $70 million for attempted manipulation of a global benchmark for interest-rate derivatives and other financial instruments, AFP reports. The Commodity Futures Trading Commission (CFTC) said late on Thursday that the German bank’s subsidiary, Deutsche Bank Securities, “made false reports and through the acts of multiple traders attempted to manipulate the US Dollar International Swaps and Derivatives Association Fix.” The attempted manipulation took place between January 2007 and May 2012, the CFTC said, adding that traders “knew their conduct was illegal.”


Source Article from http://feedproxy.google.com/~r/blacklistednews/hKxa/~3/kua1xc-EPiw/us-regulators-fine-deutsche-bank-70mn-for-trying-to-rig-benchmark.html

You can leave a response, or trackback from your own site.

Leave a Reply

Powered by WordPress | Designed by: Premium WordPress Themes | Thanks to Themes Gallery, Bromoney and Wordpress Themes