SEC fines Deutsche Bank $16 million to settle foreign corruption…

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The U.S. Securities and Exchange Commission on Thursday said Deutsche Bank had agreed to pay $16 million to settle charges that it violated the Foreign Corrupt Practices Act.

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FILE PHOTO: Signage is seen on the lobby of the U.S. headquarters of Deutsche Bank in New York City, U.S., July 8, 2019. REUTERS/Andrew Kelly

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Thursday said Deutsche Bank (DBKGn.DE) had agreed to pay $16 million to settle charges that it violated the Foreign Corrupt Practices Act.

The regulator alleged that the bank hired relatives of foreign government officials in both the Asia-Pacific region and Russia in order to improperly influence them in connection with its investment banking business.

Reporting by Michelle Price, Editing by Rosalba O’Brien


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The U.S. Securities and Exchange Commission on Thursday said Deutsche Bank had agreed to pay $16 million to settle charges that it violated the Foreign Corrupt Practices Act.

Source: {authorlink}

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