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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Deutsche Bank Seeks Voluntary ‘Clawbacks’ from Former Directors
Might former Deutsche Bank board members have a shared responsibility for the bank’s past misconduct? And, if so, how much, if anything, should they be expected to pay?
At Thursday’s annual shareholders’ meeting, DB Chair Paul Achleitner said he expects former board members to voluntarily pay substantial sums for their role in past misconduct which has tarnished the reputation of Germany's biggest lender.
Without identifying anyone by name, DB’s supervisory board is reportedly in talks with some 10 people, including former co-CEOs Anshu Jain and Juergen Fitschen, along with ex-board members Stephan Leithner, Rainer Neske, Henry Ritchotte, Stefan Krause, and current board member Stuart Lewis.
While the Deutsche Bank licks its wounds and works hard to repair its damaged reputation, the bank also seeks answers to several critical questions:
- Why was the bank’s response to the financial crisis, starting in 2008, was so slow?
- Why was the bank involved in a series of financial scandals after the financial crisis?
- To what extent did the board, as a whole, contribute to the bank’s actions?