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Stories of Interest
- SEC Adopts Statement and Interpretive Guidance on Public Company Cybersecurity Disclosures
- SEC Charges Former Bitcoin Exchange and Its Founder With Fraud
- JPMorgan Chase to Replace NYC Headquarters with 70-Story Skyscraper
- Citigroup Raises CEO Corbat's Pay 48% to $23Mn
- Should Congress Create a Crypto-Cop?
- JPMorgan Weighs Buying an Exchange-Traded Funds Firm
- Hey, Goldman Sachs: Wanna Buy BNY Mellon?
- SEC Order Rejecting Acquisition of Chicago Stock Exchange (CSX) by Chinese-Baesd Company
- Kyle Moffatt Named Chief Accountant in SEC CorpFinance
- SEC Suspends Trading in 3 Issuers Claiming Involvement in Cryptocurrency and Blockchain Technology
- Karen Garnett, Assoc. Director of SEC CorpFinance, to Leave After 23 Years of Service
- Louisiana Adviser Barred for Hiding Losses from Investors
- Connecticut HF Manager Illegally Diverted Investor Money - Now Owes Nearly $13Mn
- White House Cleaning House of Advisors Without Full Security Clearance
- Goldman Projects 30% Growth in Wealth Management Advisor Force
- Whistleblower Alleges Manipulation of CBOE Volatility Index
- FINRA Looking Into VIX (CBOE Volatility Index) Manipulation: WSJ
- Atlanta-Area Resident Charged with Misusing Investor Funds - SEC
- FINRA Announces 2018 West Region Networking Seminar
- Alberto Arevalo, Associate Director in Office of International Affairs, to Retire From SEC
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NEWSLETTERS & ALERTS
Deutsche Bank Fined for Delayed Regulatory Filing
Relatively Small Potatoes, But Totally Unnecessary.
Deutsche Bank was fined by Bafin, the German regulator for being too slow to provide reasons why it delayed confirmation that ex-CEOs Anshu Jain and Juergen Fitschen were stepping down. The delay, deemed to be a violation of securities rules, along with 3 other regulatory matters, will cost the bank $598,000 in fines.
Apparently, the bank’s supervisory board was meeting on a Sunday in June 2015 when news organizations began reporting the news that the executives were planning to leave. Since it hadn’t yet voted on Jain’s departure, the supervisory board decided to wait before confirming the reports.
Under certain circumstances, banks can decide not to immediately publish ad-hoc notifications but they must subsequently explain that decision to Bafin, a spokeswoman for the regulator said.