hit with record.5bn fine for rate-rigging. Reuters / Arnd Wiegmann Reuters, uBS is the first bank to plead guilty and pay a 545 million fine for the manipulation of the 5 trillion-a-day forex market. The German bank had said on Wednesday that it would still remain profitable in the first quarter when it reports results next week before a major restructuring that could involve the bank pulling back from the high street. In total 29 Deutsche employees were involved but the bank was unable to say how many staff had been sacked or disciplined as a result. Seoul (Reuters) - South Koreas anti-trust regulator fined Deutsche Bank AG ( ) and BNP Paribas ( ) a total of 176 million won (157,000) after it found that their branches had colluded during currency forwards auctions. A Deutsche spokeswoman could not be immediately reached. Deutsche Banks failings were compounded by them repeatedly misleading. Im begging u pleassssssssssssssseeeeeeeeee Im on my knees is among the examples provided by regulators in hundreds of pages of detail accompanying the fine the eighth related to rigging interest rates. The Swiss bank initially reported the forex rigging to the US Department of Justice (DOJ). This gives a clear signal that JPMorgan Chase, Citigroup, Barclays and Royal Bank of Scotland are facing the same fate and will pay more than 5 billion in total settlement with US and British authorities over rigging of the currency markets, a source familiar with.
The bank has agreed to pay 545 million in combined fines; the settlement includes admitting manipulating the Libor, London Interbank Offered Rate, said UBS on Wednesday. Another trader, on learning a rate was unchanged, sent a message saying: Oh rap on a pair and jack up the 3M (month). This process has been changed since the scandal erupted in 2012.
The penalties on Germanys largest bank also involve a guilty plea to the Department of Justice (DoJ) in the US and a deferred prosecution agreement. Until now, fines have been levied by the FCA along with the DoJ and other regulators such as the US Commodity Futures Trading Commission (cftc). This agreement marks another step in addressing the past and ensuring that the bank earns back the trust of its clients, shareholders and society at large. JPMorgan and Citigroup will be the first major US banks to plead guilty to criminal charges in decades. Georgina Philippou, the acting director of enforcement and market oversight at the. This case stands out for the seriousness and duration of the breaches by Deutsche Bank something reflected in the size of todays fine. A compliance officer had also signed confirmation in January 2011 that the banks.
Deutsche, bank, agrees 190 Million Settlement
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South Korea fines, deutsche, bank, BNP Paribas 157,000 over
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