Published on 21 April 2017
gata.org / By Patrick Rucker and Karen Freifeld, Reuters / Thursday, April 20, 2017
The U.S. Federal Reserve on Thursday fined Deutsche Bank $156.6 million for violating foreign exchange rules and running afoul of the Volcker Rule.
The German bank failed to detect and halt its traders from using chat rooms to communicate with competitors, the Fed said in a statement.
Central bank officials are “requiring the firm to cooperate in any investigation of the individuals involved in the conduct underlying the FX enforcement,” according to the statement.
In a statement, the bank said, “we are pleased to resolve these civil enforcement matters with the Federal Reserve.” …
… For the remainder of the report:
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