U.S. SEC fines Deutsche Bank $16 million to settle foreign corruption charges

FILE PHOTO: Signage is seen on the lobby of the U.S. headquarters of Deutsche Bank in New York City, U.S., July 8, 2019. REUTERS/Andrew Kelly

The Securities and Exchange Commission alleged that Germany’s largest lender had hired poorly qualified relatives of foreign officials in Asia and Russia at their request, in violation of the Foreign Corrupt Practices Act.“Deutsche Bank provided substantial cooperation to the SEC in its inquiry and has implemented numerous remedial measures to improve the bank’s hiring practices,” a Deutsche Bank spokesman said in a statement emailed to Reuters.

According to the SEC, between at least 2006 and 2014, Deutsche Bank employed poorly or unqualified relatives of executives working at state-owned enterprises, with the “primary goal” of generating business for the company, such as initial public offerings.

michelleprice36 The Jeffrey Epstein of Banking.

michelleprice36 CAMARADA DONALD TRUMP!!!!

michelleprice36 Fines are factored into the cost of doing business for banks, it’s budgeted and modeled out in countless spreadsheets. The percentage ratio on this is less than a drop in the bucket. It’s barely a slap on the wrist.

michelleprice36

michelleprice36 Peanuts. Why even bother.

michelleprice36 That's it?

michelleprice36 A very LOW laughable fine.

BBoason $16M for $16B profits? Hmmmm I say 'good business!' Let's do it again! The SEC is a joke. They allowed dryships , a Fraud company from Greek fraudster George economu, to defraud Americans for years, all complaints about dryships was ignorant, I lost everything.

Pocket lint=pfffft

A drop in the bucket for Deutche Bank.

WTF?

“Under the settlement, Deutsche Bank did not admit or deny the findings, the SEC said.” - seriously? So you can just pay a fine and not admit or deny you acted corruptly? No wonder Trump gets away with what he does.

That’s cute

Encore une banque corruption

Yeah that'll fix it 🙄

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