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Economy

Demeter

(85,373 posts)

20. Deutsche Bank Inquiry Deepens as New York Seeks Moscow Memos

Reply to Tansy_Gold (Original post)

Tue Jul 14, 2015, 07:07 AM

Jul 2015

http://www.bloomberg.com/news/articles/2015-07-13/deutsche-bank-inquiry-deepens-as-new-york-seeks-moscow-memos

New York’s banking regulator has asked Deutsche Bank AG for e-mails, memos, client lists and other details as part of an effort to survey how broadly a set of suspicious trades extended beyond the bank’s Moscow office, according to a person briefed on the matter.

The formal request for information, which was sent last week, the person said, marks a deepening of the New York State Department of Financial Services’ probe into Deutsche Bank’s activities in Russia. The DFS has been looking into whether people at the bank’s Moscow operation conducted trades that would help Russian clients skirt economic sanctions, the person said.

Bloomberg News reported June 5 that DFS was looking at unusual trading activity at the bank’s Russian unit.

The New York regulator asked the bank to provide a complete list of the employees involved in the suspicious trading, as well as the identities of the counterparties involved, and whether those counterparties were subject to U.S. sanctions...MORE

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