Fed fines Deutsche Bank on Volcker rule breach
Bank hit with fines for “unsound” practices in forex markets and violation of Volcker rule
The Federal Reserve is fining Deutsche Bank for failings related to its forex trading and a breach of the Volcker rule.
The Fed announced it was imposing $156.6 million in fines, with $136.9 million related to the forex breaches and $19.7 million related to the Volcker rule.
The Fed said it found gaps in “key aspects” of Deutsche Bank’s compliance programme for the Volcker rule. Established after the global financial crisis, the rule prohibits insured deposit-taking firms from engaging in
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