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Deutsche Bank, Suspended Traders Are Friends Again

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When a German judge tells you in clipped tones that you do not want her weighing in on the matter of (a) your suspension for (allegedly!) trying to manipulate interest rates or (b) your suspending said alleged manipulators without actually following any of the (probably thousands of) rules in Germany regarding such, you listen. Deutsche Bank and its suspended traders have listened.

“Having entered the mediation proceedings at the suggestion of the court of appeals, we have now followed the moderation judge’s recommendation to settle our appeal,” Deutsche Bank said….

Because the bank didn’t reinstate the traders to their original positions, as ordered by the Frankfurt court, it was fined more than €100,000, people familiar with the matter have said.

Deutsche Bank, Former Traders Settle Dispute Over Suspensions [WSJ]


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