Phys.org, 20 June 2018
US officials fined embattled German banking giant Deutsche Bank $205 million in a settlement to resolve foreign exchange market manipulation violations, New York’s top banking regulator announced Wednesday.
Deutsche Bank’s violations included improperly coordinating trading activity with other financial institutions in order to boost the bank’s own profits, the New York State Department of Financial Services said.
Deutsche Bank traders participated in multi-party online chat rooms where confidential information was shared and currency prices were manipulated, DFS said.
The violations were uncovered following an investigation from 2007 to 2013.