Tag: Deutsche Bank

As the courtroom doors swing open in Innsbruck today, René Benko faces his first criminal trial — but this...

Bullish, the institutional-grade crypto exchange backed by high-profile investor Peter Thiel, has filed for a $100 million IPO on the NYSE (BLSH). This move comes at a pivotal time for the digital assets industry, reflecting renewed investor interest and significant regulatory developments. The IPO positions Bullish as a frontrunner among crypto exchanges seeking mainstream financial legitimacy and expanded institutional reach.

High-profile enforcement actions against Binance, N26 and (most recently) Monzo have created the impression that FinTechs and crypto firms are the drivers of modern money-laundering risk. A review of the past two decades shows the opposite: the scale, sophistication and—crucially—intent demonstrated by major TradeFi institutions such as Deutsche Bank, ING and Austria’s Meinl Bank far exceed the lapses seen so far in the FinTech space.

In a controversial move, Deutsche Bank’s asset manager DWS has appointed EY as its new group auditor—despite suing the firm for its role in the Wirecard scandal. This marks a high-profile win for EY after a two-year ban from acquiring new listed clients in Germany due to its audit failures in the Wirecard collapse.

Deutsche Bank Securities, a subsidiary of Deutsche Bank, has agreed to pay a $4 million penalty after the U.S. SEC found significant delays in filing SARs. From 2019 to 2024, some investigations dragged on for over two years, rendering SARs useless for timely law enforcement actions. This case underscores the critical importance of compliance timeliness under the Bank Secrecy Act.

Deutsche Bank finds itself under prolonged scrutiny by BaFin, Germany's financial regulatory authority, due to ongoing deficiencies in its anti-money laundering (AML) and counter-terrorism financing measures. The Frankfurt-based banking giant faces the possibility of financial penalties as BaFin signals its intention to tighten oversight, extending the tenure of a special monitor assigned to the bank.

Tesla's stock value took a 10% dip on Thursday following the release of the company's third-quarter financial results, which failed to meet both revenue and earnings predictions. The electric carmaker reported revenues of $23.35 billion with an adjusted 66 cents per share earnings. This disappointing outcome marked the first occasion since Q2 of 2019 that Tesla missed the mark on both counts.

The U.S. SEC announced two separate enforcement actions against DWS Investment Management Americas Inc. (DIMA or DWS), an affiliate of Deutsche Bank AG. The first action pertains to DIMA's negligence in establishing an Anti-Money Laundering (AML), while the second addresses misleading statements about its Environmental, Social, and Governance (ESG) investment practices. DIMA has consented to pay penalties totaling $25 million to resolve these charges.

German banking giant Deutsche Bank has forged a global partnership with Taurus SA, a crypto infrastructure company based in Switzerland. The partnership enables Deutsche Bank to provide custody services for institutional clients' cryptocurrencies and tokenized assets, Taurus said in a statement. However, crypto trading is not in the bank's "immediate plans," a spokesperson said.

The WSJ reports that Deutsche Bank has reached a settlement of $75 million in a proposed class-action lawsuit accusing...

After months of speculation about his future on the Management Board of Deutsche Bank, Karl von Rohr, one of the two deputies of Deutsche Bank CEO Christian Sewing, is leaving the institute after more than a quarter of a century. He has informed the supervisory board that he will not seek an extension of his management board contract. The 57-year-old's term of office will thus end on October 31, 2023.

The European Funds Recovery Initiative (EFRI), co-founded by FinTelegram, is specialized in the recovery of funds of investors who have been defrauded by investment scams. Furthermore, EFRI sees itself as an advocate for investors and investor protection. Currently, EFRI has been granted a Power of Attorney by more than 800 victims which have been defrauded of more than EUR 34 million. The approach applied by EFRI differs in several aspects from the activities of lawyers and other organizations in the recovery business. Also because EFRI is organized as an initiative and association of victims.