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Home>GoldWire>Fed fines Deutsche Bank $156.6 million for forex violations

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Fed fines Deutsche Bank $156.6 million for forex violations

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Chris Powell

GATA

Published : April 21st, 2017

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FOLLOW : Bank Central Central Bank Fed Federal Reserve Georgia German Report Reserve Traders

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Category : GoldWire


	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: http://www.reuters.com/article/us-deutsche-ba...x-idUSKBN17M2MK

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.

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