Article: Fed Warned Deutsche Bank Over Anti-Money-Laundering Backsliding

Article - Media, Publications

Fed Warned Deutsche Bank Over Anti-Money-Laundering Backsliding

Patricia Kowsmann and Jenny Strasburg, 30 May 2021

The Federal Reserve told Deutsche Bank AG DB 0.40% in recent weeks that the lender is failing to address persistent shortcomings in its anti-money-laundering controls, according to people familiar with the matter.

The Fed’s frustration has escalated to a point that the bank could be fined, the people said.

Deutsche Bank has poured massive resources into addressing repeated shortcomings and penalties related to allowing suspect transactions. The Fed told Deutsche Bank that instead of making progress, the German lender with a large Wall Street presence is backsliding. The regulator has said that some of the anti-money-laundering control problems require immediate attention, according to the people. Continue reading “Article: Fed Warned Deutsche Bank Over Anti-Money-Laundering Backsliding”

Article: SEC Moves to Curb Short-Selling

Article - Media

SEC Moves to Curb Short-Selling

Kara Scannell and Jenny Strasburg

The Wall Street Journal, 16 July 2008

The Securities and Exchange Commission took unprecedented action against short sellers on Tuesday, acting on a widespread concern that negative bets against bank and brokerage stocks might be exacerbating the financial sector’s woes.

In a dramatic emergency order, the SEC said it would immediately move to curb improper short selling in the stocks of struggling mortgage giants Fannie Mae and Freddie Mac, as well as those of 17 financial firms, including Goldman Sachs Group Inc., Lehman Brothers Holdings Inc.,…

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