You are here: Home » Reuters » News
Business Standard

Federal Reserve fines Deutsche Bank $156.6 million for forex violations

Reuters  |  WASHINGTON 

(Reuters) - The U.S. Federal Reserve on Thursday fined AG $156.6 million for violating foreign exchange rules and running afoul of the Volcker Rule.

The German failed to detect and halt its traders from using chat rooms to communicate with competitors, the said in a release.

Central officials are "requiring the firm to cooperate in any investigation of the individuals involved in the conduct underlying the FX enforcement," according to the statement.

Separately, the said it found gaps in compliance with the Volcker Rule that prohibits government-protected banks from engaging in proprietary trading.

(Reporting By Patrick Rucker; Editing by Jonathan Oatis)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

RECOMMENDED FOR YOU

Federal Reserve fines Deutsche Bank $156.6 million for forex violations

WASHINGTON (Reuters) - The U.S. Federal Reserve on Thursday fined Deutsche Bank AG $156.6 million for violating foreign exchange rules and running afoul of the Volcker Rule.

(Reuters) - The U.S. Federal Reserve on Thursday fined AG $156.6 million for violating foreign exchange rules and running afoul of the Volcker Rule.

The German failed to detect and halt its traders from using chat rooms to communicate with competitors, the said in a release.

Central officials are "requiring the firm to cooperate in any investigation of the individuals involved in the conduct underlying the FX enforcement," according to the statement.

Separately, the said it found gaps in compliance with the Volcker Rule that prohibits government-protected banks from engaging in proprietary trading.

(Reporting By Patrick Rucker; Editing by Jonathan Oatis)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Federal Reserve fines Deutsche Bank $156.6 million for forex violations

(Reuters) - The U.S. Federal Reserve on Thursday fined AG $156.6 million for violating foreign exchange rules and running afoul of the Volcker Rule.

The German failed to detect and halt its traders from using chat rooms to communicate with competitors, the said in a release.

Central officials are "requiring the firm to cooperate in any investigation of the individuals involved in the conduct underlying the FX enforcement," according to the statement.

Separately, the said it found gaps in compliance with the Volcker Rule that prohibits government-protected banks from engaging in proprietary trading.

(Reporting By Patrick Rucker; Editing by Jonathan Oatis)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22