New York’s financial-services regulator said it fined Deutsche Bank AG $205 million over allegations it sought to manipulate currency prices and mislead clients while failing to protect confidential customer information. In a statement Wednesday, the regulator said Deutsche Bank traders and salespeople sought to skew foreign-exchange prices and charge excessive spreads. The civil investigation covered the years 2007 to 2013, during which Deutsche Bank was the world’s largest currency trader.

Court filings: KPMG employees would receive bonuses if their engagements received no comments from inspectorsReutersFormer KPMG executives are on trial for obtaining confidential information about audit inspections. The auditor of some of the world’s largest banks including Citigroup, Credit Suisse and Deutsche Bank was tipped off before a regulator inspected them. It’s been previously reported that KPMG executives were able to extract from the regulator, the Public Company Accounting Oversight Board, confidential information ahead of inspections, and use that information to correct their ...

U.S. regulators have spent much of the past decade trying to get a better handle on beleaguered Deutsche Bank AG. A wild trading day earlier this year shows how hard that will be. Traders at the German ...

The ECB never disclosed the size of the loss, which had fuelled criticism of its Corporate Sector Purchase Programme - the second-largest component of a 2.6 trillion-euro money-printing programme aimed at boosting inflation. "Following an impairment test conducted on the CSPP portfolios, the Governing Council has deemed it necessary to make a provision for a total amount of 68.9 million euros for losses on monetary policy operations relating to one security held by a Eurosystem central bank," the Banque de France said. "However marginal relative to the ECB's unlimited financial resources, ...

New York regulators are slapping a $205 million fine on Deutsche Bank, following allegations that traders at Deutsche manipulated the foreign exchange market for years. Deutsche Bank is the latest Wall Street firm to face penalties for manipulating the $5.3 trillion currency market. Banks such as Barclays, Citigroup and several others have paid hundreds of millions of dollars in fines since the scandal broke several years ago.

Deutsche Bank AG has agreed to pay a fine of $205 million for violations of New York's banking laws, the state's department of financial Services said on Wednesday. Violations, that took place between ...

U.S. regulators have spent much of the past decade trying to get a better handle on beleaguered Deutsche Bank AG. Traders at the German lender’s U.S. unit suffered a one-day loss in the first quarter that was 12 times what internal risk officers estimated for regulatory purposes it might lose on a typical day, according to a previously unreported May filing. Deutsche Bank’s U.S. trading loss was offset by related gains in London, according to people with knowledge of the bank’s operations.

Deutsche Bank AG agreed to pay $205 million to settle a long-running investigation of its foreign exchange trading by New York’s banking superintendent, resolving one of several remaining regulatory issues that have dogged the bank in the U.S. Employees at the bank participated in multiparty chat rooms where they shared confidential client information, discussed the coordination of trading activity and attempted to manipulate foreign exchange prices or benchmark rates, according to New York’s Department of Financial Services. The bank acknowledged those actions, which occurred from 2008 ...

Will pay $205m for violations of New York banking law stemming from its foreign exchange trading business, in the latest rap on the knuckles from US authorities for Germany’s biggest bank. The fine from the New York Department of Financial Services comes after the regulator found “improper, unsafe, and unsound conduct” in the German bank’s foreign exchange business between 2007 and 2013, when it was the world’s largest forex dealer. “Due to Deutsche Bank’s lax oversight in its foreign exchange business, including in some instances, supervisors engaging in improper activity, certain traders ...

Deutsche Bank AG wants to buy out Lehman Brothers Inc. claimants as the defunct brokerage’s liquidation draws to a close. Deutsche Bank’s London branch beat out five other bidders competing to make a cash offer to holders of unsecured claims against the Lehman Brothers bankruptcy estate, according to court papers filed Monday by liquidating trustee James Giddens. Mr. Giddens is nearing the conclusion of a decade-long wind-down of Lehman Brothers, the brokerage unit of Lehman Brothers Holdings Inc. He is planning to distribute $170 million, his sixth payout, to creditors, which would bring ...

Moody's Investors Service has today assigned Counterparty Risk Ratings to 26 German banks, their branches and bank subsidiaries: Aareal Bank AG, Bausparkasse Mainz AG, Bayerische Landesbank, Berlin Hyp ...

Davide Serra, chief executive officer at Algebris Investments, discusses the impact of trade tariffs on the U.S. economy and dollar, how his firm was taken by surprise by the "blip" in Italy, ...

Deutsche Bank’s struggling corporate and investment bank has reduced its backlog of non-performing loans by more than a third in a single deal by selling $1bn (€870m) in toxic shipping loans to two investment funds. A spokesman for Germany’s biggest lender told the Financial Times that Deutsche was shedding “large parts” of its non-performing shipping loans, but did not disclose financial details on the deal. The loans are a legacy of the run-up to the financial crisis a decade ago, when German lenders were in an unsustainable lending spree to the shipping sector.

Deutsche Bank (DBKGn.DE) is selling a $1 billion (758.9 million pounds) portfolio of legacy shipping loans to an entity owned by funds managed by Oak Hill Advisors and Varde Partners, it said on Tuesday. Deutsche Bank said it was not exiting ship financing. The loan bundle, which financial sources said included both performing loans and distressed assets, has a notional value of $1 billion.

E.ON will raise prices for British customers taking both gas and electricity by 4.8 percent from Aug. 16, the German utility said on Tuesday, the last of the "big six" energy suppliers to increase its tariffs. The move follows similar increases announced this year by the other five big suppliers in the country, and comes as regulator Ofgem is working to set a cap on standard prices by the end of the year. Utilities have denied overcharging, but the Competition and Markets Authority found they had overcharged some British households a total of 1.4 billion pounds ($1.75 billion) a year on ...

Invicta Holdings is a South African listed investment vehicle in the capital equipment and engineering space. As FT Alphaville discovered in February, it might also be the only company in the world whose annual reports have line items for both “golf cars” and “credit-default swap derivatives”. Well, Invicta had more bad news for shareholders after the market closed on Friday: headline earnings per share were down 80 per cent year-on-year, primarily due to a large tax provision.

Deutsche Bank (DB) remains on track to remodel its business in order to improve financials.

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