Deutsche Bank

A couple of notoriously lax securities regulators would like to see the adjective “notoriously lax” excised from before their names.

First, to Toronto, where the Ontario Securities Commission is looking longingly at Preet Bharara’s ability to command the entire FBI to stop what it’s doing to surreptitiously tape some mid-level hedge fund analyst’s phone calls. Read more »

When prosecutors make a bee-line for your place after an uninvited visit to your lawyers, that’s probably not a good thing. Read more »

  • 20 Mar 2014 at 4:08 PM

Layoffs Watch ’14: Deutsche Bank

Zee Germans are mulling over cutting their own, at all levels. Read more »

Deutsche Bank has concluded co-Chief Executive Anshu Jain is clean after an internal investigation into the role of the bank into the manipulation of global interest rates, German newspaper Frankfurter Allgemeine Sonntagszeitung reported. Citing supervisory board sources, the paper reported that the internal probe had cleared Jain of involvement in the Libor scandal after scrutinizing bank documents and interviewing hundreds of Deutsche Bank employees. [Reuters]

  • 13 Jan 2014 at 4:31 PM

Bonus Watch ’14: Everyone

Pay predictions for Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, RBS, UBS. Read more »

Deutsche Bank, Europe’s biggest investment bank by revenue, will review whether to punish senior employees including Alan Cloete for their roles in the interest-rate rigging scandal, according to a person with knowledge of the matter. Deutsche Bank’s supervisory board will discuss punishments early in the week of Jan. 27, said the person, who asked not to be named as the meeting isn’t public. These include firing or disciplining Cloete — who oversaw traders alleged to have sought to rig benchmark rates — and employees responsible for how the bank dealt with the scandal, the person said. The potential sanctions follow a Jan. 5 report in Der Spiegel that German banking regulator Bafin told Deutsche Bank in August that its management and supervisory boards didn’t adequately investigate and address the alleged rate-rigging. The German news magazine didn’t say where it got the information. [Bloomberg]

JP Morgan Chase and Deutsche Bank are extending bans on the use of multi-dealer online chatrooms, sources familiar with the plans told Reuters, as banks crack down on potentially inappropriate communications following a string of scandals. Chatrooms have been a focus for regulators investigating manipulation of benchmark interest rates and possible rigging in the $5.3 trillion-a-day foreign exchange (FX) market. A source familiar with developments at JP Morgan, the biggest U.S. bank by assets, said the decision was unrelated to the FX probes which surfaced in June, noting chatrooms had been under review at the bank since earlier this year. “This has always been about more than FX,” the source said, adding that the casual nature of online chatrooms increased the potential for “inappropriate” remarks to be made. [Reuters, Related: UBS Making Foreign Exchange Rate Manipulation Mildly More Inconvenient]