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Stories of Interest
- Address at ICI's 2017 Securities Law Developments Conference - SEC Commissioner Stein
- New York Pension Fund Seeks More Pay Disclosure from Wells Fargo
- Wells Fargo Sanctions Are on Ice Under Trump Official
- Josh Brown: Here's How to Buy Bitcoin, But Realize It Could Be One Giant Bubble
- Trump's New Tax Plan Could Cost Citigroup $20 Billion
- Morgan Stanley Fires Former Congressman Harold Ford Jr.
- Al Franken Will Resign Over Sexual Misconduct Allegations - His Full Resignation Speech
- Ex-NFL Player Gets 40 Years for Running $10Mn Fraud
- Bitcoin Blows Past $15K, Adding $2K in Under 12 Hours
- Financial Adviser Settles Charges for Defrauding Private Equity Fund Investors
- New Cross Market Equity Supervision Report Cards - FINRA Phone-In Workshop, WebEx Presentation
- Mueller Just Crossed Trump's Red Line, With Deutsche Bank Subpoena
- Wildfire Rages Near Los Angeles
- Former Company Insider Has $4.1Mn Payday as a Whistleblower
- Audit Firm, Anton & Chia, Conducted Fraudulent Audits of Penny Stock Companies - SEC
- Mueller Subpoenas Deutsche Bank Records on Trump and Family
- Bitcoin Nearly Halfway to $400Bn Value Predicted by Winklevoss Twins 4 Years Ago
- Fidelity Clients Suffer Second Website Glitch in Week
- CBOE Beats CME to Bitcoin Futures Launch with December 10 Start
- McKinsey Senior Exec Thomas Barkin Named New Head of Federal Reserve Bank of Richmond
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NEWSLETTERS & ALERTS
New Issues Arise for Deutsche Bank
The European Central Bank uncovers risk management issues.
For the past 3 years, shares in Deutsche Bank have been on a downward spiral. After trading as high as $50 a share in January 2014, DB shares hit bottom at $12.75 (on 9/16/16) before running up to $20.46 a share on 1/23/17 – thanks largely to the Trump Bump.
Charged with returning Deutsche Bank to profitability and stability, new CEO John Cryan has been implementing a comprehensive restructuring plan, complete with massive legal settlements, cost cuts, and personnel layoffs. And if that wasn’t enough, Cryan announced earlier this month that the bank would need to raise an additional $8.5 billion in capital – which likely would dilute current shareholders’ positions.
So with all of that, what else could befall Deutsche Bank? Well, on Friday, the European Central Bank issued a negative review on Deutsche Bank’s risk controls. The review by the ECB, which began several months ago, found deficiencies in derivatives and complicated financial bets that raises concerns about how the bank prices contracts ranging from insurance to climate-related securities.
Oh, and did we mention that DB shares were down 2.5% on Friday, 3/17?