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- Goldman's Lloyd Blankfein Seems to be Making a Habit Out of Trolling Trump
- Goldman on Hunt for Star Traders to Revive Struggling Commodities Unit
- Yahoo Owes Millions for Busting NCAA Tourney Bracket Deal
- JPMorgan Joins 21st Century Fox in Fighting 'Deep Divisions Across Our Country'
- Please, God, Save Gary Cohn From Himself: The Case for Resigning
- Regulatory Considerations When Bringing on a New Advisor
- Why Deutsche Bank is at Mercy of Regulators
- U.S. Treasury Auction Class-Action – Federal Judge Causes Interminable Delay
- Mnuchin Rejects Calls to Resign and Defends Trump
- Best Time to Go to the U.S. (Tennis) Open Tourney - Before It Starts on August 28
- Stifel Prevails in Arbitration But Ex-Hilltop Employees Hit with Awards - Bill Singer
- Banca IMI Securities to Pay $35Mn for Improper Handling of ADRs in Continuing SEC Crackdown
- Members of White House ‘Arts Panel’ Resign En Masse in Protest of Trump
- FINRA Whiffs on Disciplinary Sanction: Bill Singer's 'Negligent Market Manipulation in OTC Stock Promotion'
- Heather Heyer’s Mother Says, ‘I’m Not Talking to the President’
- Goldman Sachs May Have Lost $100Mn on Energy Bet Gone Wrong
- SEC Drops Case Against Ex-JPMorgan Traders Over 'London Whale'
- Financial Advisers That Invest in Technology Need to Accomplish These Two Things
- FINRA Amends Codes Regarding Expedited Arbitrator List Selection
- FINRA July 2017 Quarterly Disciplinary Review (Podcast)
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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.